March 22, 2017

Strong operating performance of GTC allows to propose dividend of PLN 0.27 per share

Strong operating performance of GTC allows to propose dividend of PLN 0.27 per share

"GTC delivered solid results in 2016, several value accretive acquisitions and completions of office projects contributed significant to NAV and NOI growth,” Thomas Kurzmann, GTC’s CEO said. “We will deliver a strong performance over the next years to come as our income-generating portfolio will expand and boost rent income through further accretive acquisitions and completion of development projects. Over 139,000 sqm GLA of retail and office space under construction and an additional 181,000 sqm at planning stages supported by a strong cash position are the ingredients of a substantial NAV growth to come.”

“Thanks to the growth achieved in 2016, the board recommended dividend distribution from 2016 profits of PLN 0.27 per share. Recognizing profit distribution to shareholders as one of management’s goals, we are committed to execute appropriate, performance-based dividend payments, whilst continuing to pursue our NAV and FFO I growth strategy. The dividend policy is therefore guided by our cash resources, planned investment and expected FFO I growth,” commented Erez Boniel, GTC’s CFO.

“We are confident that we will generate a double-digit dividend and NAV growth in years to come as we deliver on our total return investment strategy,” added Thomas Kurzmann.

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