ORCO PROPERTY GROUP | Dividend policy
Dividend policy
Holders of the Shares are entitled to the annual dividend proposed by the Board of Directors of the Company in respect of the Company’s fiscal year. The declaration, payment and amount of dividends on the Shares are subject to the approval of the Shareholders at the annual shareholders’ meeting.
The Company has paid dividends since 2004 (for the fiscal year 2003). For the fiscal years 2005, 2006 and 2007, Orco offered its shareholders the possibility to have their dividends paid in cash or in new shares. The Company is targeting to pay annual dividends in the future, so long as its financial condition permits such distributions and as approved by Shareholders at the AGM. The Company expects these dividends to be funded by cash generated from its operations. The timing and amount of such dividends, if any, will depend upon the Company’s future earnings and prospects, capital requirements and financial condition and such other factors as the Board of Directors consider relevant, as well as the approval of the shareholders. There can be no assurance that any dividends will be paid or that, if paid, they will correspond to the policy described above. These dividend targets should not be regarded as a profit or earnings forecast. The Company may revise its dividend policy from time to time.
Dividends paid by the Company may be subject to deduction of Luxembourg withholding tax.
| 2007 Dividend Calendar |
|
| Dividend record date |
24th April 2008 |
| Ex-dividend date |
25th April 2008 |
| Dividend announcement date |
25th April 2008 |
| Shareholders to communicate their choice (cash or share) |
13th May 2008 |
| Dividend payment date |
2nd June 2008 |
| Dividend per share |
|
|
|
|
|
| Year |
2007 |
2006 |
2005 |
2004 |
2003 |
2002 |
2001 |
| EUR |
1.4 |
1.00 |
0.80 |
0.60 |
0.45 |
0.40 |
NA |
