CEE-focused shopping centre operator Atrium European Real Estate appears poised to resume paying dividends to shareholders, in the wake of a failed take-private bid by Gazit-Globe.
Providing a trading update for the first nine months of the year, Atrium said: ‘Following the announcement on 25 October 2019 of the lapse of the court-sanctioned scheme of arrangement, the board is reviewing the distributions policy of the company and intends to make a further announcement before the end of the year.’
'Distributions' refers to dividends. A source close to the company told PropertyEU there is an appetite to resume dividends expeditiously.
Atrium has come under pressure from dividend-starved shareholders, who last month rejected Israeli investor Gazit's offer for the company - which Atrium's board had recommended.
Minority stakeholder, Icamap, led the shareholder rebellion against that proposed deal. Talking to PropertyEU its managing director Harm Meijer called on the firm to make the payouts.
