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Atrium Promenada, Credit: Atrium

Atrium: update on dividend and announcement of strategic review

Atrium announces that, further to the statements made in its announcements of 23 July and 7 November 2019, its board of directors has taken the decision to reinstate the Q3 and Q4 2019 dividends.

Atrium also announces that the Board and management team have been undertaking a strategic review to identify further growth opportunities to deliver strong, long term sustainable income returns for all the Company’s shareholders. The strategic review is focused on, amongst other things, leveraging the operating platform in Poland and the Czech Republic, continued execution of the Company’s asset rotation programme, densification of core retail assets and diversification into other classes of real estate, including focusing on residential for rent.

As part of this diversification strategy, the Company has entered into an agreement which gives it the option, subject to the relevant approvals, to acquire the controlling stake in a future residential building with c. 900 apartments in the heart of Warsaw.

The 2020 dividend policy will be announced at the time of the 2019 annual results publication. The Annual Results are scheduled to be released on 26 February 2020, in advance of the Company’s first quarter dividend payment date expected at the end of March 2020.

The Q3 and Q4 2019 dividends of €cents 6.75 per share each which will be paid as a capital repayment in a single distribution of €cents 13.5 on 30th December 2019 to shareholders on the register at 23rd December 2019 with an ex date of 20th December 2019.