LEG Immobilien falls as it suspends dividend

LEG Immobilien SE

09/03/2023 07:43

** LEG Immobilien  LEGn.DE  shares fall 6.1% in early
Frankfurt trade as it announced the suspension of dividend,
amidst the release of its full year results
    ** The German real estate firm cited high interest rates and
uncertainty regarding the value of its portfolio as reasons for
the suspension of the dividend
    ** It would instead use the sum to strengthen its balance
sheet, it added
    ** Although not fully unexpected, a local trader flags that
consensus was still expecting a dividend of 3.57 euros per share
    ** J.P. Morgan estimates LEG's savings by suspending its
dividend of about 337 million euros ($355.64 million)
    ** LEG Immobilien falls to the bottom of Germany's midcaps
index  .MDAXI  in early Frankfurt trade
    

($1 = 0.9476 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))