Globe Trade Center (GTC) recommends not to pay dividends from profit for 2020, the company said.
The recommendation of the management board was issued on the basis of the existing uncertainty as to the consequences of the coronavirus (COVID-19) outbreak and the intention of the management board of the company to further increase it by purchasing and developing new investment projects. The above recommendation was issued despite good operating results (measured by profit). FFO) achieved by the company in the fiscal year ended December 31, 2020 and a good financial and liquidity condition.
As indicated, according to the management board, it is in the interest of the company and its shareholders to keep funds in the company, which will allow to maintain a strong capital and cash position, which can be used to prevent the potential further effects of the Covid-19 pandemic, as well as allow the company to continue its growth through purchases and development of new investment projects.
The GTC Group is one of the leading companies in the commercial real estate sector in Central, Eastern and Southern Europe, offering office and retail space. The company has been listed on the WSE since 2004.
