Attijari Leasing Shareholders Convened for Ordinary General Meeting
The shareholders of Attijari Leasing have been convened to an Ordinary General Meeting on April 8, 2025, to deliberate on the 2024 financial statements. The draft resolutions reveal that the net result stands at 10,003 million Tunisian dinars (Mtnd), representing a 13.4% increase in annual profit. The Board of Directors has decided to propose a dividend distribution of 2 Tnd per share. Based on yesterday's closing price (26,950 Tnd), and taking into account the 10% withholding tax on dividends, the yield is 6.67%, higher than the market average.
This performance confirms, once again, the financial sector's unique resilience in terms of profitability. Leasing, in particular, can be an attractive option for those who have concerns about banks but want to invest in financial companies. Unlike banks, a decrease in interest rates does not immediately affect revenue, but rather takes at least a year. Moreover, financing rates are fixed for leasing, protecting them from monetary policy movements.
Furthermore, the General Meeting will authorize the issuance of one or several ordinary and/or subordinated bond loans, amounting to 100 Mtnd, within a period of one year. It will delegate the necessary powers to the Board of Directors to determine the successive amounts, modalities, and conditions. This is part of the company's financing plan security.
In light of Attijari Bank's performance, it appears that investing in the Attijari Group has been one of the best decisions a stock market investor could have made in recent years. Since the beginning of the year, the Attijari Leasing stock has shown a performance of 40.73%, and the market is right.
