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AroundTown Shareholders Receive Distributed Dividend

mm by Vikram Ahuja
January 14, 2021
in Business
0
AroundTown Shareholders Receive Distributed Dividend

Aroundtown, a company founded by Yakir Gabay (יקיר גבאי), and traded on the Prime Standard of the Frankfurt Stock Exchange, is the highest rated German commercial real estate company (BBB+) by S&P. The company invests in income-generating,  value-add properties around major cities across Germany and Netherland.,

The company’s major owners are Avisco 10%, controlled by the real estate investor Yakir Gabay (יקיר גבאי),  as well as other international investors including Vanguard, Norges Bank, Blackrock (5%), Allianz, Toronto Dominion Bank, Alliance-Bernstein, BNP Paribas and many other institutional investors.

The company announced on Dec 15th, 2020, that its shareholders received a distributed dividend of €0.14 per share in the security settlement systems for December 17th, 2020, set to be formally paid out in cash on January 15th, 2021. The dividend approval follows a November 2020 decision by the Board of Directors as part of the company’s dividend distribution policy.

The conglomerate Board of Directors postponed the dividend payment back in May of 2020 due to the uncertainty of the market at an unprecedented scale. Now, at the beginning of 2021, the Board has a better grasp on and visibility of the company’s performance and cash flow, helping them decide on dividend distribution. The decision to distribute 50% of the company’s standard dividend policy was made as a move of conservative approach and anticipation to capitalize on economic opportunities that may arise during the upcoming fiscal periods, stemming from the economic difficulties of 2020.

As it has done in the past, Aroundtown is offering its shareholders to receive their dividend as a scrip dividend instead of cash payment. From the period of December 16th, 2020, to January 8th, 2021, shareholders can opt at their own discretion to receive up to 85% of their dividend from Aroundtown in the form of company shares, with the remainder paid in cash. According to insiders, those who opt to not go this route will simply receive a full cash dividend.

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Vikram Ahuja

Vikram Ahuja is one among the oldest contributors of Tricity Daily with a particularly unique perspective with regards to Law & Order niche. He aims to empower the readers with delivery of apt factual analysis of various news pieces from around the country.

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