Belgium's Cofinimmo to lower dividend for 2014

BRUSSELS Fri Feb 7, 2014 2:48am EST

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BRUSSELS Feb 7 (Reuters) - Belgian real estate group Cofinimmo on Friday said it would pay a lower dividend for 2014, as its net rental income fell in 2013.

In 2013, the real estate company, which has a broad portfolio ranging from office buildings in the Belgian capital and nursing homes across Belgium and France, said it would pay a dividend of 5.50 euros for 2014, following 6.00 euros for 2013.

Analysts expected the group to maintain a steady dividend.

Its net rental income fell to 220.5 million euros ($299.87 million) in 2013 from 225.4 million in the previous year, as the 2012 numbers were inflated by a one-off fee paid by Belgian state-owned bank Belfius when it vacated two buildings managed by Cofinimmo.

($1 = 0.7353 euros) (Reporting by Robert-Jan Bartunek; editing by Robin Emmott)

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