Eastern Europe lifts MAS dividend a whopping 30%
The property investor and developer sees further room for expansion in its eastern European portfolio
MAS Real Estate, the commercial property investor and developer grew its dividend per share 30% in the year to June, having managed to grow its eastern European portfolio quicker than expected. The company achieved an increase of 86% in passing rent, 91% in its income-generating portfolio and its dividend per share, grew from €0.045, to €0.0585, said CEO Lukas Nakos. "The group has had an exceptional year. We have doubled our income-generating property portfolio in the year, in turn driving up rental income and earnings," he said. "The successful central and eastern European acquisitions include the Nova Park Shopping Mall in Poland and the Galleria Portfolio in Bulgaria. Our 146-room Adagio hotel at New Waverley in Edinburgh was completed in 2016 and we are excited about the successful conclusion of the 25-year lease agreement with the UK government also at New Waverley, which is proof of MAS’s ability to attract elite tenants to our iconic development," said Nakos. MAS had scope t...
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