Post by account_disabled on Mar 13, 2024 4:19:25 GMT -5
Colonial has not finalized its first divestment plan and is already thinking about the next one. The Socimi of Catalan origin plans a new round of property sales after completing, almost in its entirety, the divestment program that the real estate company began last year and with which it has earned more than 500 million euros.
As Pere Viñolas, CEO of Colonial , explained at the Phone Lead shareholders meeting, “the divestment plan has worked very well and there will be a second wave in the second half of this year.” Viñolas assured that the scope of this second phase of divestments has not yet been decided, nor have the assets that will be put up for sale been identified.
With the plan that is now about to be completed, Colonial has divested ten assets totaling an area of 98,215 m2. 27% corresponds to land and office buildings with high levels of vacancy, 35% to properties located in secondary locations, and the rest to mature assets with no long-term value creation path.
These divestments have allowed the SOCIMI to reduce its net debt by 421 million, bringing it to 4,934 million euros. Most of the operations have been executed in 2023.
Viñolas also took the opportunity to remember that the real estate sector is experiencing “a year of transition” and ventured that the turning point will not arrive before the beginning of 2024.
With a quorum of 79.55%, the shareholders' meeting of the Socimi gave its approval to the agreement that proposed the distribution of a remuneration of 0.25 euros per share, which will mean an approximate disbursement of 135 million euros.
Last year, the dividend that the company delivered in July amounted to 0.24 euros per share, so this year's dividend will be slightly higher. The funds will come mainly from last year's profits and the rest from an issue premium , in the proportion of 104.7 and 30.2 million euros, respectively.
Regarding the other items on the agenda, the re-election of Silvia Mónica Alonso-Castrillo, Ana Peralta Moreno and Ana Bolado Valle as directors has been approved, as well as the appointment of Miriam González Amézqueta and Manuel Puig Rocha (from the multinational fragrances and beauty Puig).
Regarding this latest agreement, Juan José Brugera has said that it is good news that one of the company's significant shareholders (Puig has 7.37% of the shares) demonstrates its long-term commitment to the company, by wanting be now representing on your council.
Likewise, the number of members that make up the board of directors of the Socimi has been set at 13 members and PwC has been re-elected as auditor of the 2024 accounts.
As Pere Viñolas, CEO of Colonial , explained at the Phone Lead shareholders meeting, “the divestment plan has worked very well and there will be a second wave in the second half of this year.” Viñolas assured that the scope of this second phase of divestments has not yet been decided, nor have the assets that will be put up for sale been identified.
With the plan that is now about to be completed, Colonial has divested ten assets totaling an area of 98,215 m2. 27% corresponds to land and office buildings with high levels of vacancy, 35% to properties located in secondary locations, and the rest to mature assets with no long-term value creation path.
These divestments have allowed the SOCIMI to reduce its net debt by 421 million, bringing it to 4,934 million euros. Most of the operations have been executed in 2023.
Viñolas also took the opportunity to remember that the real estate sector is experiencing “a year of transition” and ventured that the turning point will not arrive before the beginning of 2024.
With a quorum of 79.55%, the shareholders' meeting of the Socimi gave its approval to the agreement that proposed the distribution of a remuneration of 0.25 euros per share, which will mean an approximate disbursement of 135 million euros.
Last year, the dividend that the company delivered in July amounted to 0.24 euros per share, so this year's dividend will be slightly higher. The funds will come mainly from last year's profits and the rest from an issue premium , in the proportion of 104.7 and 30.2 million euros, respectively.
Regarding the other items on the agenda, the re-election of Silvia Mónica Alonso-Castrillo, Ana Peralta Moreno and Ana Bolado Valle as directors has been approved, as well as the appointment of Miriam González Amézqueta and Manuel Puig Rocha (from the multinational fragrances and beauty Puig).
Regarding this latest agreement, Juan José Brugera has said that it is good news that one of the company's significant shareholders (Puig has 7.37% of the shares) demonstrates its long-term commitment to the company, by wanting be now representing on your council.
Likewise, the number of members that make up the board of directors of the Socimi has been set at 13 members and PwC has been re-elected as auditor of the 2024 accounts.