Post by
fiveniner on Jul 13, 2023 12:36pm
ALY dividend from MarketWall
This did not get enough attention when Q1 financials were released - perhaps because it was sitting in accounts receivable.
Looking at Q1 financial statements, you would see ~$2.6M sitting in other receivables (i.e., not trade receivables). You would also see a ~$2M shareholder dividend from MarketWall in the investment in associate section.
Looking at the accompanying new release, you would see that Intesa Sanpolo has paid MarketWall out for this year's contract renewal (4M euro). This explains the dramatic increase in MarketWall Current and Total assets - an increase that outstrips the reported $1.2M in income.
Not explicit anywhere, but I am guessing that MarketWall assessed that it did not immediately need the cash from ISP to fund ongoing operations (goood sign) and so issued a dividend to shareholders. A good deal for ISP as they own 33%.