French listed office investor Foncière des Régions has announced it will carry out a capital increase of EUR 150 mln after 66% of its shareholders opted for payment of the 2011 dividend in shares.
French listed office investor Foncière des Régions has announced it will carry out a capital increase of EUR 150 mln after 66% of its shareholders opted for payment of the 2011 dividend in shares.
The Metz-based property company said it will issue nearly 3 million new shares at a price of EUR 51.20, representing 95% of the average closing price on the 20 stock market trading days prior to the shareholders’ vote at the company’s annual general meeting.
FdR is paying out a dividend of EUR 4.20 a share for full-year 2011. The total amount of the dividend paid in cash will be EUR 78 mln.
The company is listed on Euronext Paris and its EUR 9 bn office portfolio is one of the largest in Europe.
