Since DIA was listed on the stock exchange on 5 July 2011, it has promoted smooth and transparent relations with a new stakeholder group: the financial community. In 2012, the company created different communication channels for both shareholders and other market agents that could have any concern, real or potential, regarding the company.
Share capital at 31 December 2012 comprised 679,336,000 ordinary shares of €0.10 par value each. Free float stood at 87.6%, with a market cap of €3.27 billion.
In January 2012, the stock was included in Spain’s benchmark blue chip index, the IBEX 35. The share price hit its 2012 high on 21 December of €4.93 per share and its annual low on 23 April of €3.35 per share, taking closing prices. The share capital ended the year’s final trading session at €4.91, a 39% gain from 2011, easily outperforming the IBEX 35 and Bloomberg Food Retail Index, which rose just 4.7% and 7.4%, respectively. An average of 5.45 million DIA shares traded hands daily in 2012, making DIA one of the 10 most liquid stocks on Spain’s continuous market.
At its meeting of 13 June 2012, the Board of Directors approved payment of a gross €0.11 per share dividend from 2011 profit. This dividend was paid on 16 July 2012, implying a payout to shareholders of 47.8% of 2011 adjusted net profit. The company also approved and carried out a number share buyback initiatives, as a result of which treasury shares accounted for 3% of share capital at year-end 2012.
Given the changes that arose after becoming a listed company, DIA now has a three-person IR (investor relations) department devoted to fostering dialogue between the company and its equity stakeholders. In 2012, the IR department carried out over 1,000 actions to this end (including in-person meetings and conference calls with analysts and investors). It coordinated the disclosure to the market of the company’s internal financial information and organised the group’s first Investor Day.
The Investor Day took place in Madrid on 31 October 2012 and was attended by 120 participants who came from all over the, along with another 300 which connected up by webcast or phone. Eight DIA executives participated in the event, including Ricardo Currás, the company’s CEO. Between them, they gave their audience an overview of the company’s most important aspects and developments, as well as its plans for the months ahead. The event included a site tour which enabled attendees to get to know DIA’s business model and its various sales concepts first hand.
A space that is open 24/7-365
DIA created a specific section for shareholders on the corporate website, www.diacorporate.com, offering comprehensive monitoring of its market activity and information on specific areas of interest to investors, such as corporate governance and disclosures of price-sensitive information through announcements of significant events to the stock exchange regulator. It also includes an investor calendar highlighting the main dates.
Visitors to this section can also subscribe to the shareholders newsletter, which contains all the main news involving the company. Contract details are provided, including the Investor Relations email address (firstname.lastname@example.org) and telephone number (+34 913 985 400).
New communication channels
Looking ahead to 2013, DIA wants to maintain, if not improve, communications with market agents. Keys to maximising the company’s transparency and market visibility will include earnings presentations, investor roadshows, conference calls, webcasts and the second Investor´s Day. The Investor Relations department will play a crucial role in achieving the goal of bringing DIA as close to the financial community as possible in 2013.