Kindred rises on bigger-than-expected dividend, Q1 update

Kindred

08/02/2023 09:25

** Shares in Kindred  KINDsdb.ST  rise about 4% after the
Stockholm-listed online gambling group proposed a dividend well
ahead of consensus and provided a Q1 trading update
    ** The company's board proposes a dividend of GBP 0.345 per
share, 15% above consensus estimates cited by Pareto Securities
analyst Georg Attling 
    ** Attling adds that together with the dividend, the
company's trading update for Q1 with revenues up 36% y/y is a
primary driver for Wednesday's share move
    ** However, he says "the trading update was substantially
boosted by a strong sports betting margin so the underlying
activity is not as strong as the trading update suggests"
    ** The shares are on track for their best day since October
 (Reporting by Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@tr.com))