Grand City Properties slips as it suspends dividend

Grand City Properties SA

16/03/2023 06:55

** Shares in Grand City Properties  GYC.DE  slip 2.1% in
Lang & Schwarz pre-market, after German residential real estate
company suspended its dividend payout due to increasing
macro-economic uncertainties in markets
    ** GCP also posts FY adjusted EBITDA of EUR 308 Mln, up 3%
y/y
    ** "FY22 rather irrelevant, shares will tank anyway" a local
trader says
    ** Stock now seen among worst performers of German mid-cap
index  .MDAXI 
    
    
    ($1 = 0.9427 euros)


 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))