Aroundtown SA Announces Dividend Suspension for 2023 Amid Market Uncertainties

Aroundtown SA, the Luxembourg-based real estate company, communicated a strategic decision on March 26, 2024, to withhold its dividend payout for the year 2023. This decision, advised by the company’s board of directors, is set against a backdrop of ongoing market uncertainties that have clouded visibility into future developments. These uncertainties, according to the board, affect transaction markets and property values, potentially impacting the company’s leverage and financing costs.

The board's resolution aims to prioritize capital preservation in light of the unpredictable market environment. By focusing on enhancing liquidity and reducing leverage, Aroundtown aims to navigate the challenges posed by the current economic landscape. This conservative approach is seen as a necessary measure to ensure the company's stability and financial health in the face of continued market volatilities.