French property group Gecina is considering the distribution of free shares to shareholders and the implementation of a split in the nominal value of the share. The French property company which is the process of splitting up from Spanish firm Metrovecasa is looking at new ways of increasing value for shareholders.
French property group Gecina is considering the distribution of free shares to shareholders and the implementation of a split in the nominal value of the share. The French property company which is the process of splitting up from Spanish firm Metrovecasa is looking at new ways of increasing value for shareholders.
The two ideas are among various alternatives being studied with a view to fostering a 'significant increase' in value for Gecina shareholders and better liquidity for the share on the stock exchange, said chairman Joaquin Rivero.
Gecina's priorities in 2008 are to achieve growth in cash flow and increase financial flexibility. The company also hopes to finalise the separation process with Metrovacesa, according to the company statement.
The EUR 5.01 dividend per share, which will be paid out on 28 April, is a significant increase on 2007, up 19.3%. Rivero said that once the unbundling has been completed, it will enable the company to pay an extra annual dividend of about EUR 3 on the year of completion and around another EUR 3 the year after.
