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Colonial To Pay Dividends Again After 10 Years

23 February 2016 – El Mundo

The Group generated profits of €415 million in 2015, thanks to the revaluation of its buildings.

Its profits in 2015 were 15.6% lower than in 2014, when the figures reflected the positive accounting effect of the deconsolidation of Asentia.

After 10 years, the Colonial Group is going to distribute dividends once again, distributed from its results for the financial year 2015. The real estate company will allocate around €47 million for payment to its shareholders, 59% of whom are individual investors. The rest of the Group’s capital is held by the Villar Mir Group (15%), the Qatar Investment Authority (13%) and Aguila LTD (7%), a fund owned by (the Colombian group) Santo Domingo (…).

Colonial’s share price closed 2015 at €0.62, after improving by 29% during the year. Shareholders will receive a dividend of €0.015 per share. The company, led by Juan José Brugera, generated a net profit of €415 million last year, after receiving revenues from rental income of €231 million, up by 9% YoY, due to a 6% increase in rental prices, as well as the impact of new acquisitions made in 2014 and 2015. The Group’s profits in 2015 were 15.6% lower than in 2014, when the results reflected the positive accounting effect of the deconsolidation of Asentia (which was not repeated in 2015).

The real estate company, which operates in Barcelona and Madrid, as well as in Paris, through its French subsidiary Société Foncière Lyonnaise (SFL) recorded a 20% increase in the valuation of its assets, to €6,913 million, with 4% of that amount relating to its most recent operations in Paris. In 2016, the firm wants to continue its pace of investment, at around €300 million per year, even though that figure rose to €475 million in 2015. It will also continue to operate in the office segment in its three geographical markets, through both renovations and new builds.

Original story: El Mundo (by M. T. Coca)

Translation: Carmel Drake