Brief: Genova Updates Strategy, Targets, Decides On Regular Dividend Payments

Genova Property AB

30/09/2024 07:07

Sept 30 (Reuters) - Genova Property Group AB  GPGR.ST :
    * UPDATES STRATEGY AND TARGETS FOR STRENGTHENED PROFITABLE
GROWTH
AND DECIDES ON AMENDED DIVIDEND POLICY WITH REGULAR DIVIDEND
PAYMENTS
    * COMPANY'S LIMITATIONS IN FORM OF OPERATIONAL TARGETS WILL
NO
LONGER APPLY
    * WILL, TO A GREATER EXTENT, EVALUATE SALE OF BUILDING
RIGHTS
    * AS OF 2025 AGM, AIM TO PAY ANNUAL DIVIDENDS THAT AMOUNT TO
AT
LEAST ONE THIRD OF INCOME FROM PROPERTY MANAGEMENT
    * TARGETS FOR CONSTRUCTION, SHARE OF RENTAL INCOME, AND
PROPERTY
PORTFOLIO VALUE WILL NO LONGER APPLY
    * LOAN-TO-VALUE RATIO SHOULD BE LESS THAN 55% OVER TIME
    * GENOVA'S OTHER FINANCIAL TARGETS AND RISK LIMITATIONS ARE
UNCHANGED

Source text for Eikon:  ID:nWkr1c3sty 
Further company coverage:  GPGR.ST 

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