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PREOS Real Estate announces dividend payments – publity wants to reduce its share in the medium term

PREOS Real Estate wants to pay a dividend for the first time for the current 2020 financial year and thus set the start for continuous distributions to shareholders. As part of the newly adopted long-term dividend policy, “a dividend of 5 percent of the weighted average PREOS share price in the three months before the annual general meeting will be targeted”, announced the m: access-listed subsidiary of the real estate group publity on Friday.

In addition, the company is about to purchase additional properties. According to PREOS, exclusive audits are currently underway for the purchase of office properties with a total value of 500 million euros. By the end of the current year, the company intends to increase its real estate portfolio from 1.5 billion euros to 2.0 billion euros and then continue to grow. “By the end of 2024, the portfolio with a focus on large-volume office properties in prime locations in metropolises such as Frankfurt, London and Paris is to be expanded to EUR 8 billion,” announced PREOS.

When it comes to financing the acquisitions, they want to get strategic investors on board and also use capital market instruments, which will broaden the shareholder base. In the course of the development, the parent company publity wants to reduce its current share from 86 percent to 25.01 percent and thus give up the majority. This target exists for the year 2023, according to the company.

At a glance – chart and news: PREOS Real Estate

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