Brief: Castellum Lowers Dividend Distribution Target

Castellum AB

03/05/2024 07:16

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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