XM does not provide services to residents of the United States of America.

Spain's Colonial expects 8-10% higher dividend per share

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Spain's Colonial expects 8-10% higher dividend per share</title></head><body>

June 13 (Reuters) -Spanish real estate group Colonial COL.MC expects its dividend per share to rise between 8% and 10% in the future, it said on Thursday at a shareholders meeting.

The company said it will pay a dividend of 0.27 euros per share on June 21, an 8% increase from its previous payout of 0.25 euros per share.

"The policy of increasing dividends responds to the strength of Colonial's results in 2023, based on trading volume as well as occupancy and rental growth," the firm said in a note.

Higher interest rates took a toll on real estate companies in 2023 due to a drop in asset valuations, although Colonial's first-quarter net profit doubled from a year earlier, supported by inflation-linked rental income and high occupancy rates.

The company expects the next interest rate cuts by the European Central Bank should halt the fall in valuation of its assets.

"Inflation is being controlled, but it's dragging a little, delaying expectations of rate cuts. Green shoots are appearing," Colonial's chairman, Juan Jose Brugera, told a conference call.

Reporting by Matteo Allievi
Editing by Bernadette Baum


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.