2020 DIVIDEND TO BE SUBMITTED FOR APPROVAL AT THE APRIL 23, 2021 GENERAL
TIMETABLE AND PAYMENT METHOD
As announced at the time the 2020 Full Year Results were released on February
22, 2021, the Board of Directors today specified the payment method for the
final dividend that will be submitted for approval at the General Meeting
scheduled for April 23, 2021.
The General Meeting will be asked by the Board of Directors to approve:
- the payment of a gross dividend of EUR4.01 per share (including the interim
dividend which has been paid), stable compared to the 2019 amount.
- the payment method for the final dividend payment.
It should be noted that a gross interim dividend of EUR2.01 per share,
representing 50% of the total dividend, was paid on March 5, 2021.
As a result, the Board of Directors that met today decided on the following
items which will be submitted for approval at the General Meeting on April 23,
- shareholders may opt to receive up to 80% of the gross final dividend of
EUR2.0 per share in the form of shares.
- the price of the shares issued for the portion of the final dividend to be
paid in shares (if the scrip option is exercised) will be set by the Board of
Directors following approval from shareholders at the General Meeting. The
issue price would need to be at least equal to 90% of the average price of the
Company's share over the 20 trading days preceding the General Meeting.
As a reminder, a dividend of EUR4.01 implies a payout ratio of 83% of 2020 net
current cash flow. As a result, the dividend yield stood at 6.4% based on the
share price as of December 31, 2020.
In addition, the Board of Directors approved all the resolutions to be
submitted to the General Meeting.
These resolutions will be included in the notice of meeting to be published on
the Company's website (www.icade.fr) on March 19, 2021.
* March 5, 2021: Payment of a gross interim dividend of EUR2.01 per share
* April 23, 2021: Icade's General Meeting followed by a Board of Directors
meeting to set the price of the shares issued as payment for the dividend (a
press release will be published on April 23, 2021 after the market closes)
* April 28, 2021: Ex-dividend date for the final dividend
* April 29, 2021: Record date
* April 30, 2021: First day for receipt of scrip elections with regard to the
portion of the final dividend that may be paid in shares.
* May 20, 2021: Final day for receipt of scrip elections with regard to the
portion of the final dividend that may be paid in shares
Shareholders who have not exercised their option on or before May 20, 2021 will
receive their final dividend solely in cash
* May 25, 2021: Result of election for cash or scrip dividend
* May 27, 2021: Cash and scrip dividends paid
DESIRABLE PLACES TO LIVE
As an office and healthcare property investment company (portfolio worth
EUR14.7bn on a full consolidation basis as of 12/31/2020) and a developer of
homes, offices and public amenities (2020 economic revenue of nearly EUR825m),
Icade designs, builds, manages and invests in cities, neighbourhoods and
buildings that are innovative, diverse, inclusive and connected, with a reduced
carbon footprint. Desirable places to live and work. In collaboration with its
stakeholders, Icade has made low carbon a strategic priority in order to
reinvent real estate and create cities that are healthier, happier and more
hospitable. Icade is a key player in Greater Paris and major French cities. It
is listed as a "SIIC" on Euronext Paris and its leading shareholder is the
Caisse des Dépôts group.
The text of this press release is available on the Icade website:
Head of Financial Communication and Investor Relations
+33 (0)1 41 57 70 29