The Board of Directors of Aroundtown (the "Company" or "AT") invite to an ordinary general meeting to take place on December 15, 2020 to suggest a dividend payment of 0.14 per share (gross), which reflects 50% of the Company's dividend distribution policy. The suggested dividend payment comes after the Board of Directors decided in May 2020 to postpone the dividend payment due to the unprecedented uncertainty in the market. With 2020 coming to an end, the Board of Directors have a better visibility of the impact on the Company's cash flow and performance and have decided to suggest a dividend distribution. In order to retain additional firepower for potential unique opportunities which could arise in the upcoming periods as the result of economic difficulties, the Board of Directors suggest distributing 50% of the Company's dividend distribution policy.
The Company will also offer a scrip dividend as in previous years. The details to the scrip dividend, subscription price and ratio, will be published on the Company's website under: www.aroundtown.de/investor-relations/...meeting/ogm-dec-2020/ after the distribution of dividends will be approved in the OGM.
Aroundtown utilized its strong deal sourcing network in order to maintain its high disposal activity and signed year-to-date a disposal volume of ca. 2.1bn at profits above book value. The disposal proceeds increase the Company's liquidity which supported debt repayments and the buyback of its own shares as the shares trade at a significant discount to its underlying asset value and operational performance. The share buyback has a positive long-term impact on all per share KPI's, including the EPRA NAV per share and the FFO per share which future dividend payments will be based on. As of this date, AT has bought back 13% of its own shares.
Auch wenn sie im Vergleich zu den Vorjahren eher bescheiden daher kommt, ist die zusätzliche Dividendenzahlung nach dem ARP ein starkes Zeichen und zeigt einmal mehr, dass AT1 finanziell bestens aufgestellt ist. In 2 Wochen gibt es zusätzlich auch noch die Quartalszahlen, das könnte den Kurs erneut befeuern. Ich glaube wieder an Kurse über 6 noch in diesem Jahr. Glückwunsch allen, die geduldig geblieben sind, es wird sich gelohnt haben :)