The MAB’s Socimis ask to Delay their Dividend Payments until the End of the Year

17 April 2020 – Brainsre.news

The Socimis have requested a series of measures such as deferring their dividend payments and making property sales more flexible to allow them to preserve cash until activity recovers.

Asocimi, an association that represents 32 of the Socimis listed on the MAB, has sent a letter to the Government, the CNMV and the MAB requesting a delay in the payment of their dividends until the end of 2020 to mitigate the effects of Covid-19. It has also asked for the suspension of the two-year period required to go public and for greater flexibility when it comes to selling properties even when they have not complied with the minimum lease period, according to Expansión.

The law that regulates these listed real estate investment vehicles currently establishes a period of six months from the end of the financial year for entities to determine their dividends – which must represent at least 80% of the profit generated – followed by one month to proceed with the payment.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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