Corestate Capital Holding S.A.
Corestate withdraws financial outlook for 2020 and proposes to the Annual General Meeting that the dividend for financial year 2019 be waived
Corestate Capital Holding S.A. / Key word(s): Dividend/Profit Warning Publication of insider information pursuant to Article 17 of Regulation (EU) No 596/2014 of the European Parliament Corestate withdraws financial outlook for 2020 and proposes to the Annual General Meeting that the dividend for financial year 2019 be waived
Given the uncertainty surrounding the course of the COVID-19 pandemic, further strengthening of the liquidity position is currently a priority. The Company will therefore propose to the Annual General Meeting that no dividend be distributed for financial year 2019. The future payout ratio is also being adjusted; from 2021 on, and thus for the first time for financial year 2020, it is to be at least 30 percent of earnings per share (EpS). The objective is to reduce the Company’s net financial debt in the medium term and mitigate any cyclical or other external risks to the business model. With regard to its debt, Corestate is positioned for the long term, and the next refinancing need will be at the end of 2022 at the earliest.
22-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Corestate Capital Holding S.A. |
4, Rue Jean Monnet | |
L-2180 Luxembourg | |
Luxemburg | |
Phone: | +49 69 3535630-107 |
Fax: | +49 69 3535630-29 |
E-mail: | IR@corestate-capital.com |
Internet: | www.corestate-capital.com |
ISIN: | LU1296758029 |
WKN: | A141J3 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1027801 |
End of Announcement | DGAP News Service |