Inmobiliaria Colonial will maintain the payment of its annual dividend despite the current crisis, so that it will distribute 0.20 euros gross per share, an amount that, however, “due to prudence” will be the same as the office socimi paid last year .
The company will allocate 101.6 million euros charged to its results from last year and the issue premium to pay this remuneration to be approved at the general shareholders’ meeting called for next June 30.
Colonial already advanced its intention to pay a dividend a few days ago when presenting its results for the first quarter, when it assured that it was facing the “complex and uncertain stage” that the crisis represents for the coming months with a “healthy financial structure”.
In this sense, in addition to its portfolio of office buildings, valued at 12.2 billion at the end of 2019, lThe company pointed to its liquidity buffer of 2,100 million, to its indebtedness equivalent to 36% of said asset value, and to the fact that it has just ratified the ‘investment grade’.
According to the company, This liquidity covers four times the debt maturities expected for this year and the next and all those scheduled until 2023.. It includes the sustainable loan of 200 million that it achieved in April.
The company pays partners whenever, in operational terms, has limited the impact of the crisis to between 2% and 6% of total income Estimated for this year for the rental of the portfolio of office buildings that it has in the center of Madrid, Barcelona and Paris.
Re-election of directors
Regarding its shareholders’ meeting, among the other items on the agenda is the re-election of three proprietary directors, two of them representing their first shareholder, the Qatari sovereign wealth fund, which has a 20.2% stake.
The socimi headed by Pere Viñolas will hold its assembly marked by the crisis that has led the company to postpone part of the investments it executes in the office project development plan that it has underway.
However, the firm claims to maintain “its investor appetite” and continue “looking at opportunities”, although with the same prudence that has led to said slowdown in investment.