Following the distribution of a dividend of 3.25 euros per share in April 2010, the payment of this extraordinary interim dividend aims to allow Icade's shareholders to benefit from the results of its strategy consisting in the disposal of residential real estate assets and the refocusing of its portfolio on commercial properties, while anticipating its distribution obligations under the SIIC regime.
"Benefiting from a strong financial structure, Icade will continue to have the financial resources allowing it to pursue its development strategy" says Serge Grzybowski, Chairman and Chief Executive Officer of Icade.
Icade, a subsidiary of the Caisse des Dépôts, is a listed company which conducts business activities in real property investment and associated services in the office, business park, shopping center, public healthcare amenities and housing sectors. Icade's expertise in its different business lines enables it to provide its clients with tailored solutions and offer a global solution to challenges currently encountered in the real estate sector. In 2009, Icade's consolidated turnover and net current cash flow amounted to 1,506 million euros and 184 million euros respectively. As of June 30, 2010, Icade's re-valued liquidation net asset value amounted to 4,117 million euros, i.e. 80.3 euros per share.
The text of this press release is available on Icade's website: www.icade.fr
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