PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
Frankfurt's DIC Asset posts 30% profit slide; to pay div. close to 9%
Frankfurt-based DIC Asset posted 2008 consolidated net income of e25.2m, within expectations, but 30% down on 2007, while total revenues slipped 12% to e208m. However, most of this was due to portfolio changes and rental income rose 44% to e135m. Shareholders will receive a dividend of e0.30 per share. Compared with its stock value of e3.43 at last week's close, which is a current trading discount of 79% to NAV, it means that the planned dividend payout is equivalent to around 8.7%.