PHN’s Management Board has recommended that the General Meeting of Shareholders allocate PLN 18.4 million of the 2021 net profit to dividend, i.e. PLN 0.36 per share. As regards the remaining part of the net profit for last year, amounting to PLN 54.2 million, the Management Board proposes to allocate it to increase the reserve capital and to implement the investment program.
PHN has been paying regular dividends to its shareholders for many years. Last year, the company paid out a total of PLN 17.9 million in dividend, that is PLN 0.35 per share. This year, despite the continuing difficult macroeconomic situation caused mainly by the COVID-19 pandemic, stable financial results of the PHN Group will allow not only for the implementation of current investment projects, but also for the payment of profit to the company’s shareholders.
“We are a company that regularly shares profit with our shareholders. Despite the difficult macroeconomic situation and high costs of financing, we plan to implement an ambitious investment program this year, increasing the value of our Group,” said Marcin Mazurek, President of the Management Board of Polski Holding Nieruchomości S.A.
“Taking into account the costs of obtaining financing on the market, we recommend allocating 25 percent of the 2021 profit to dividend, which will allow us to carry out investment projects without the need to incur significant debt,” added Marcin Mazurek.
The recommendation assumes setting the dividend day at August 18, 2022 and the dividend payment date at August 31, 2022. The final decision on profit distribution will be made by the Ordinary General Meeting.
***
Polski Holding Nieruchomości Group
Polski Holding Nieruchomości (PHN) is one of the largest groups in the Polish commercial property sector in terms of the market value of its portfolio. The Group’s portfolio comprises over 156 real estate assets with a market value of approx. PLN 3.5 billion. PHN’s operations are concentrated in Warsaw and Poland’s major regional cities, including Poznań, Łódź, Katowice, Cracow, Wrocław, and the Tri-City area. The company has many years’ expertise in the following sectors: office, commerce and logistics, in both real estate management and investment project implementation. PHN has been listed on the Warsaw Stock Exchange since February 13, 2013.
***
Contact:
Polski Holding Nieruchomości S.A.
Magdalena Kacprzak, Head of the Marketing, Strategy, Investor Relations and PR Office
Mob. +48 721 000 071; Phone: +48 22 850 91 34; E-mail: magdalena.kacprzak@phnsa.pl
