The Annual General Meeting will take place on May 17th.
(Photo: picture alliance / imageBROKER)
Frankfurt The Düsseldorf-based housing group LEG Immobilien does not want to pay its shareholders a dividend for the past year. The MDax group announced on Wednesday after the stock exchange closed that a suspension of the dividend payment for the 2022 financial year should be proposed to the general meeting on May 17th. The Management Board and the Supervisory Board had agreed on this.
In view of high interest rates and the ongoing uncertainty about the valuation of the real estate portfolio, the funds are to be used to strengthen the balance sheet instead of paying a dividend.
Previously, the payout ratio was 70 percent of operating profit (FFO I). This was 482 million euros in 2022 and thus in the upper range of the range of 475 to 485 million euros reduced in November.
As already announced in November, LEG Immobilien intends to be measured using a different key figure in the future and is based on the AFFO. In 2022, the AFFO was 108.8 million euros.
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