Cibus Nordic - Dividend proposed at EUR 0.84 (0.80)
Cibus disclosed a new dividend policy with quarterly increases. From now on, the company targets a 5% annual increase in dividends.
- Rental income for the Jul-Dec 2018 period amounted to EUR 25.0m, and NOI totaled EUR 23.4m. Occupancy rate was 96%.
- The portfolio had a year-end gross asset value of EUR 816m.
- Cibus expects to make acquisitions to the tune of EUR 50m during 2019.
- The quarterly increasing dividend means that the first partial payment will be EUR 0.2062 per share, the second EUR 0.2087 per share, the third EUR 0.2113 per share and the fourth EUR 0.2138 per share.
- NOI capacity remains at EUR 47.8m.
- Since the March 2018 IPO, acquisitions and refinancing have helped cash flow to improve by 10%. While the portfolio is currently exclusively invested in Finnish properties, Cibus restates its long-term plan to enter other Nordic markets.