JP Morgan has a target price of R$9 for 2025, and a neutral recommendation. (Image: Disclosure)
O Matthew Group (GMAT3) reported this Monday (23) that it approved in council the distribution of interest on equity in the amount gross total of R$ 100.4 millionbased on the company's profit reserves, equivalent to the gross value of R$ 0.0454477290 per shareexcluding treasury shares.
“People registered as shareholders of the company on the base date of September 26, 2024, will be entitled to the declared JCP, respecting the negotiations carried out up to that date, inclusive. The company's shares will be traded ex-rights to receive JCP from September 27, 2024”, said Grupo Mateus.
The retailer reported that the payment of interest on equity will be made in a single installment by December 31, 2024, on a date to be set by the board of directors and informed to shareholders.
There will be no monetary adjustment or interest incidence between the date of declaration of JCP and the date of actual payment. The amounts paid as JCP are subject to taxation by Income Tax at Source, at a rate of 15%, in accordance with current legislation, except for shareholders who are demonstrably exempt or immune, for whom there is no withholding, or shareholders domiciled in countries or jurisdictions for which legislation establishes a different rate.
JP Morgan has a neutral recommendation for Grupo Mateus
On the 13th, JP Morgan started coverage of Grupo Mateus with a target price for 2025 of R$9, and a recommendation neutral. For the bank, despite accelerated growth in recent years, the stock has already priced in this improvement.
They recall that the retailer surpassed the Assai (ASAI3) and the Carrefour (CRFB3) by 40% and 20% respectively and now trades in line with peers at 11.5x and 10.5x 2025 and 2026 price-to-earnings.
“Still, while I prefer GMAT over peers due to better operating momentum, we see it being priced mostly at current levels.”
See the company's statement