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LIMASSOL, Cyprus - GDEV Inc. (NASDAQ:GDEV), an international gaming and entertainment company currently trading at $14.26, has declared a one-time special cash dividend of $3.31 per share, with a total value of approximately $60 million. This dividend, announced today, is payable on March 11, 2025, to shareholders on record as of March 3, 2025. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates.
The dividend represents a yield of about 20% based on the volume-weighted average price of GDEV’s shares over the last 30 trading days. The payout will be funded from the company’s accrued profits over recent years, which is part of its total cash balance of around $153 million as of the third quarter of 2024. InvestingPro data shows GDEV maintains a strong financial position with virtually no debt, reporting a debt-to-equity ratio of -0.01 and an impressive gross profit margin of 66.3%.
GDEV’s decision to issue the special dividend is part of its strategy to optimize its capital structure by reducing excess liquidity and streamlining operations. The Board of Directors sees this move as aligning with GDEV’s commitment to disciplined capital allocation and long-term value creation. They believe it demonstrates the company’s financial robustness and its ability to balance stability with growth in a volatile market.
Andrey Fadeev, GDEV’s Founder, CEO, and Chairman of the Board, emphasized that the special dividend, a first since the company’s public listing, reflects a commitment to shareholder value while maintaining a strong financial position. He assured that GDEV would remain debt-free with a significant cash reserve, enabling ongoing investments in long-term growth.
It’s important to note that this special dividend is a singular event and does not signal the start of a recurring dividend program. The Board does not expect to declare further dividends in the foreseeable future.
GDEV Inc., through its subsidiaries, including Nexters and Cubic (NYSE:CUB) Games, has developed popular gaming franchises like Hero Wars, Island Hoppers, and Pixel Gun 3D, achieving over 550 million installs and $2.5 billion in bookings globally.
This news is based on a press release statement and reflects the company’s current expectations, which are subject to risks and uncertainties that could cause actual results to differ materially.
In other recent news, GDEV Inc. has announced a significant change in its leadership structure. The company appointed its founder and CEO, Andrey Fadeev, as the new Chairperson of the Board. This move is intended to enhance the synergy between GDEV’s strategic management and operational activities. Natasha Braginsky Mounier, the outgoing independent non-executive director and chairperson, will step down, receiving a severance payment for her service since the last annual general meeting. Despite this transition, GDEV will maintain an independent majority on its board, with three out of five members being independent. Responsibilities previously held by Ms. Braginsky Mounier will be reassigned to other independent directors, with Tal Shoham joining the Audit Committee and Marie Holive joining the Nomination and Compensation Committee. Andrey Fadeev expressed gratitude for Ms. Braginsky Mounier’s contributions to the company’s governance and oversight. The leadership change is part of GDEV’s efforts to align board leadership with operational expertise to better capitalize on market opportunities and drive growth. GDEV remains committed to fostering long-term, sustainable growth while adhering to high standards of corporate governance.
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