Merlin Properties repeats operating profit and increases its dividend

Merlin Properties repeats operating profit and increases its dividend


Merlin announced an increase in the supplementary dividend payable in May of 30 cents per share, which added to the 20 cents already distributed last October, gives a total compensation of 50 cents to the shareholder in 2018 (+9% over 2017).

The company announced its estimated shareholders’ remuneration during 2019 as a minimum of 244 million euro. This remuneration, which would be fully paid in cash, would represent 52 cents per share, and would be distributed in part as dividend and in part as a share premium. It represents a 4% increase over 2018’s remuneration.

The company announced a 7% growth of Merlin’s Gross Asset Value or GAV, which on December 2018 was of 12.041 million euro, according to Savills and CBRE’s assessments, over the 11.254 million euro registered a year ago.

The net asset value is 6.956 million euro, equivalent to 14.81 euro per share, which represents a 12% increase over 2017’s EPRA net asset value per share (13.25 euro per share).

The REIT presented the plan Best III, even before finishing Best II, which adds half a million square meters to its development in the next few years, with the goal of extending its mark all over the Peninsula, with projects in Valencia, Seville, Zaragoza, Lisbon and the Basque Country. Best II advances, with 100.000 sqm which will enter production in 2019.

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