sur Grand City Properties S.A., (isin : LU0775917882)
Grand City Properties S.A. Announces Suspension of 2023 Dividend Due to Market Uncertainties
On 12th March 2024, Grand City Properties S.A. declared its decision not to recommend a dividend payment for the year 2023 during its upcoming annual general meeting on 26 June 2024. This move comes as a response to the persisting market uncertainties that have influenced the board's viewpoint on managing its financial resources more cautiously.
The Luxembourg-based company highlighted concerns about the ongoing market conditions, including the potential impacts on leverage, transaction markets, valuation, and financing costs. These factors have prompted a more conservative approach towards capital and liquidity preservation. Accordingly, Grand City Properties S.A. is prioritizing deleveraging strategies during this period of uncertainty. The company believes that sustaining a strong financial base is imperative to navigating the current market landscape effectively.
R. H.
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