As a Belgian REIT, Befimmo has the obligation to distribute a dividend at a minimum of 80% of the “results”.
The assumptions used for making the forecasts* published in February 2019 indicate that (at constant perimeter) the consolidated EPRA earnings (group share) of €3.36 per share should be achieved in fiscal year 2019. Taking into account the disposal of the Pavilion building, which realised a capital gain** of €0.30 per share during the current fiscal year, the distributable amount of the fiscal year is estimated at €3.66 per share.
Unless other factors intervene, and at this stage of the fiscal year, on 18 July 2019 the Board of Directors confirmed the dividend forecast for the fiscal year (€3.45 gross per share). It considers distributing an interim dividend for the fiscal year, as from Friday 20 December 2019. This interim payment should amount to €2.59 gross per share, while the decision to declare a final dividend of €0.86 gross per share for the 2019 fiscal year could be placed on the agenda of the Ordinary General Meeting of shareholders to approve the accounts at 31 December 2019, to be held on 28 April 2020.
*For more information, please see pages 91 to 97 of the Annual Financial Report 2018.
** Net of the absence of income from the building in 2019.
The dividend in subsequent years will depend on the economic climate, the investment opportunities that the Company takes, and its degree of success in implementing projects as well as in the development of the coworking activity, while continuing to benefit from a stable income, thanks to the defensive nature of its property assets.
The Company’s financial service is provided by ING Belgium.
Contact information :
ING Belgium Cours St Michel 60 - 1040 Brussels
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