Hili Properties plc, a subsidiary of Hili Ventures, on Monday announced that it is planning to distribute a final net dividend of €4.3 million to shareholders.
The payment of the dividend, which is equivalent to €0.0108 per share, is being recommended by the Board of Directors, with approval to be granted during the company’s Annual General Meeting on 25th June 2024.
Once approved, all shareholders included in the shareholders’ register of the company as of 25th June 2024 shall be entitled to receive their respective share of the dividend.
Hili Properties added that the payment of the dividend is planned to be made on or around the second week of July.
This comes just a couple of days after Hili Properties announced its financial results for the year ended 31st December 2023, during which it recorded €15.7 million in revenue, an increase of over 28 per cent from the previous year. Pre-tax profit for 2023 amounted to €7.6 million, significantly up from the €6.8 million of 2022. At the end of 2023, the portfolio value of Hili Properties stood at €229 million, from 22 investment properties.
Hili Properties invests in commercial real estate such as shopping centres, restaurants, office space, and healthcare facilities in a number of European cities and locations.
The company’s entire portfolio was 99 per cent occupied as at the end of 2023, with an average lease term of 8.3 years. This growth was achieved despite significant challenges being faced by the commercial real estate market over the past year.
