The General Shareholders’ Meeting on April 22, 2021 voted to approve the payment of a dividend of Euro 0.43 per share for 2020. This dividend corresponds to the recurrent taxable profit available for distribution for 2020 in accordance with Mercialys’ tax status as a French listed real estate investment trust (SIIC). It does not include the distribution relating to the capital gains on asset sales completed in 2020, representing Euro 0.37 per share based on the number of Mercialys shares currently outstanding.
In an uncertain economic and health context, Mercialys’ Board of Directors chose to moderate the dividend for 2020 with a view to safeguarding the Company’s liquidity and balance sheet positions. A proposal was also submitted at the General Shareholders’ Meeting on April 22, 2021 offering an option for this dividend to be paid in full in shares or in cash. 43.3% of the rights were exercised for the option for the 2020 dividend to be paid in shares, with 1,837,332 new shares issued on May 21, 2021 and Euro 22.4 million of dividends paid in cash.
The Euro 0.37 per share relating to the capital gains on assets sold must be distributed in 2022 at the latest, as required by the SIIC status. However, if the health and economic environment improves significantly in 2021, the Board of Directors could decide to pay out an interim dividend during the second half of 2021 corresponding to all or part of these capital gains on assets sold in 2020.