Press
Releases
*Data provided by Alpha Vantage
February 21, 2025 – Limassol
GDEV Declares One-Time, Nonrecurring Special Cash Dividend of $3.31 Per Share
February 21, 2025 – Limassol, Cyprus – GDEV Inc. (Nasdaq: GDEV), an international
gaming and entertainment company (“GDEV” or the “Company”), today announced that its
Board of Directors has authorized and approved a one-time, nonrecurring special cash
dividend of $3.31 per share, representing a yield of approximately 20% based on the
volume-weighted average price of the Company’s shares for the last 30 trading days prior to
today’s announcement. The special dividend is payable on March 11, 2025, to the
Company’s shareholders of record as of the close of business on March 3, 2025
This one-time special dividend, totaling approximately $60 million, will be funded from
GDEV’s accumulated profits over the past few years and represents a portion of the
Company’s total cash balance of approximately $153 million¹ (as of Q3 2024). The Company
expects to release its audited results for the 2024 financial year around the end of the first
quarter of 2025
By distributing a portion of its retained earnings, GDEV better optimizes its capital structure,
reducing excess liquidity and providing for a more lean and efficient operating model. This
decision reflects the Company’s commitment to disciplined capital allocation and long-term
value creation. The Board’s confidence in GDEV’s financial strength underscores its
proactive approach to maintaining an optimal balance between stability and growth in the
volatile environment. Importantly, this special dividend is a one-time distribution and does
not establish a recurring dividend program. It is not anticipated that the GDEV’s Board of
Directors will declare any further dividends in the foreseeable future.
GDEV Founder, CEO, and Chairman of the Board of Directors, Andrey Fadeev, stated: “The
special dividend is the first in the Company’s history since our public listing. The decision to
declare a special dividend underscores our commitment to delivering value to our
shareholders while maintaining a strong financial position. Our robust balance sheet enables
us to return capital to shareholders without compromising our ability to invest in the
Company’s long-term growth. Following this distribution, GDEV will remain debt-free with a
substantial cash balance providing financial stability and the continued development of both
our existing portfolio and future initiatives.”
About GDEV Inc.
GDEV is a gaming and entertainment holding company, focused on development and
growth of its franchise portfolio across various genres and platforms. With a diverse range of
subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create
games that will inspire and engage millions of players for years to come. Its franchises, such
as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million
installs and $2.5 billion of bookings worldwide. For more information, please visit
www.gdev.inc.
Contacts:
Investor Relations
Roman Safiyulin | Chief Corporate Development Officer
investor@gdev.inc
¹ Including the investments into high quality liquid securities.
Cautionary statement regarding forward-looking statements
Certain statements in this press release may constitute “forward-looking statements” for
purposes of the federal securities laws. Such statements are based on current expectations
that are subject to risks and uncertainties. In addition, any statements that refer to
projections, forecasts or other characterizations of future events or circumstances, including
any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company’s
current expectations and beliefs concerning future developments and their potential effects
on the Company. There can be no assurance that future developments affecting the
Company will be those that the Company has anticipated. Forward-looking statements
involve a number of risks, uncertainties (some of which are beyond the Company’s control)
or other assumptions. You should carefully consider the risks and uncertainties described in
the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the
Company on April 29, 2024, and other documents filed by the Company from time to time
with the SEC. Should one or more of these risks or uncertainties materialize, or should any
of the Company’s assumptions prove incorrect, actual results may vary in material respects
from those projected in these forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and the Company undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities laws.