CD PROJEKT announces record PLN 500 million dividend payout

CD PROJEKT publishes its financial results for 2020. Last year, the company earned PLN 1.1 billion and plans to pay out PLN 500 million in dividends.

Originally, CD PROJEKT was supposed to publish the annual report on Monday, April 19. However, the deadline was postponed by a few days, but estimated financial data was released, which the company has not done so far. As they showed, last year’s sales revenues were to amount to PLN 2.14 billion. On the other hand, the net profit exceeded PLN 1.15 billion.

The published results were below the analysts’ consensus prepared by PAP, despite the fact that for CD PROJEKT itself it was a record year after the premiere of Cyberpunk 2077. The company intends to spend over PLN 500 million on dividends, which gives a PLN 5 dividend per share.

Even before the publication of the results, the CD PROJEKT share price was hovering at PLN 173. The company’s capitalization, compared to the record valuation from last year, decreased to approximately PLN 17 billion. At the beginning of April, Noble Securities and BM mBank issued a “reduce” recommendation for the company to PLN 172.


PAP consensus assumed a net profit of PLN 1.3bn, while revenues were to total PLN 2.4bn. Despite the fact that the results were below expectations, it is worth emphasizing that CD PROJEKT did not even have such revenues or profits after the successful premiere of The Witcher III. Back in 2015, after the premiere of The Witcher 3 Wild Hunt, the revenues of the Warsaw company were close to PLN 800 million.

An important issue is the planned dividend from the profit for 2020 in CD PROJEKT. According to published data, the company plans to allocate PLN 500 million to dividends. This is by far the largest dividend in the company’s history.

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