(News Bulletin 247) – Patrimoine & Commerce reported on Wednesday “solid” results for its 2022 financial year, both operationally and financially, a performance that will allow it to increase the amount of its dividend.
The company, which operates a portfolio of real estate assets, mainly in retail, generated recurring net income of 29.3 million euros last year, compared to 26.7 million in 2021.
Taking into account in particular the share of companies accounted for using the equity method, net income, group share amounted to 47.8 million euros, up 51.7% compared to the previous financial year.
In its press release, Patrimoine & Commerce says it has benefited from sustained rental activity with the signing of 55 leases, including 21 renewals.
The occupancy rate improved to stand at 94.3%, while the rate of collection of rents and charges reached 98.1%.
Following these performances, the group plans to offer its shareholders a dividend of 1.30 euros per share, an increase of 4% compared to the previous financial year.
This coupon shows a return of 4.6% on the revalued net assets (ANR) as of December 31, 2022 and 7.9% on the current share price.
As of December 31, the appraised value of the portfolio stood at 841.3 million euros, an increase of 4.3% compared to December 31, 2021.
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