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Chris
@Multibagger
9Mes·

Another unknown dividend bargain

Since I am also quietly and secretly building up a 2nd pillar with dividend stocks, which also promise good growth, I have come across $PZU (+1,68%) that will probably end up in my portfolio. What do you think? They are the market leader in Poland with a dividend yield of 7.5% and a P/E ratio of less than 10.

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S.A.U.@SAUgut777
9Mes
First on the watch list.
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Hodlinvestor@Hodlinvestor
9Mes
The company is currently a buy recommendation from the shareholder.
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investment_guru_894@investment_guru_894
8Mes
Main issue with the PZU currently is that there are ongoing talks concerning it’s merger into PEKAO Bank Polska (WSE: PEO) of which pzu holds around 25% of ownership.

I hold both of them in my portfolio… and I’m waiting what exactly do they want to achieve here

Yeah stock investing in Poland is quite tricky… Especially since main shareholder in both (directly and semi derectly is the state of Poland)
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Matthias@duncan10r
9Mes
There was an article on PZU in the penultimate issue of Aktionär. It read quite positively, as a kind of Polish counterpart to Allianz. It also made it to a new recommendation. Analysts expect earnings per share to rise from 1.45 to 1.63 in 2025, with a very attractive dividend yield and attractive multiples. I'll probably add it to my portfolio soon, because my favorite companies Munich Re and Allianz are doing too well for me at the moment
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Chris@Multibagger
9Mes
@duncan10r I have also added a first small position to my portfolio. I have disposed of $PIA, which also has a good dividend yield, but in my opinion does not have as much potential in terms of price.
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Matthias@duncan10r
9Mes
@Multibagger What's more, the insurance business is so stable and calm. Especially if you have a lot of tech in your portfolio, it's a nice addition
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Pedro M.@serkeftin
6Mes
I also had them on my radar and even had a buy order on Trade Repblic, but the problem is the spread... It is so high that my order is not executed at all.
What is your experience with other brokers. Which one would you recommend?
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Chris@Multibagger
6Mes
@serkeftin Flatex, because you can choose between all trading platforms and can always see bid and ask prices from all of them.
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Pedro M.@serkeftin
6Mes
@Multibagger super thanks!
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Patrick Schäfer@Hotte1909
9Mes
I've had it on my watchlist for a while but haven't found a way to get in yet.
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Olli@Olli68
9Mes
However, the dividend is quite volatile.
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Chris@Multibagger
9Mes
@Olli68 but always rising
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John@Transporter
9Mes
Yes, great company. I thought about getting in at under 10 last year, but then missed it.
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Tom@Laeuft
9Mes
Interesting. Is there a double taxation agreement? In Poland the withholding tax is 19%.
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Chris@Multibagger
9Mes
@Tom_laeuft Unfortunately, I can't tell you that.
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S.A.U.@SAUgut777
9Mes
@Multibagger @Tom_laeuft Yes, there is a DBA
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Pedro M.@serkeftin
6Mes
I first bought $PKO and $1AT but also looked at other Polish shares such as $ALR or $OPL
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