Provider: Wright Reports
LEG Immobilien AG to Issue FY 2012 Dividend; Issues FY 2013 Forecast
LEG Immobilien AG announced that its Management Board will propose the payment of an initial fiscal year 2012 dividend of EUR 0.41 per share to the Annual General Meeting. This corresponds to 16% of FFO I in the 2012 financial year. A distribution ratio of 65% of FFO I is planned from 2013 onwards. Furthermore, the Company informed that it expects its target of organic rental growth of between 2% and 3% and thus expects to generate operating earnings (FFO I) of between EUR 137 million and EUR 140 million in the fiscal year 2013. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 operating earnings of EUR 139.21 million.
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