Castellum Lowers Dividend Distribution Target
May 3 (Reuters) -Castellum AB CAST.ST:
SAID ON THURSDAY DECIDED ON REVISION OF FINANCIAL TARGETS AND DIVIDEND POLICY
NEW OVERALL FINANCIAL TARGET IS A RETURN ON EQUITY OF AT LEAST 10%
DIVIDEND WILL TOTAL AT LEAST 25% OF INCOME FROM PROPERTY MANAGEMENT
PREVIOUS DIVIDEND POLICY MEANT THAT DIVIDEND WOULD TOTAL AT LEAST 50% OF INCOME FROM PROPERTY MANAGEMENT BEFORE TAX.
PREVIOUS TARGETS – AN INCREASE OF 10% PER YEAR IN INCOME FROM PROPERTY MANAGEMENT PER SHARE AND NET INVESTMENTS TOTALLING 5% OF PROPERTY VALUE – HAVE BEEN ABANDONED
FINANCIAL POLICY REMAINS UNCHANGED, WHICH MEANS THAT THE INTEREST COVERAGE RATIO WILL BE A MULTIPLE OF AT LEAST 3, AND THE LOAN-TO-VALUE RATIO WILL NOT PERMANENTLY EXCEED 40%
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Further company coverage: CAST.ST
(Gdansk Newsroom)
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