The dividend constitutes approximately 50% of the Company’s share in the FFO forecast for 2022 and reflects a dividend yield of approximately 3.9% relative to the Company’s share price.
This week, Aspen Group reported on the sale of land in Hadera; The transaction will yield the company a free cash flow of NIS 59 million and a profit of NIS 13 million.
Subsidiary Pai Siam has submitted a draft prospectus for the issuance of bonds.
Guy Poppy, Chairman of Aspen Group: “Aspen Group’s Board of Directors has decided to adopt an updated dividend policy for 2022, which reflects a 40% increase in the planned profit distribution amount compared to the amount announced for 2021. The increase in the distribution amount is a derivative of Aspen Group’s business growth and profits. Represents about 50% of the expected FFO for 2022. We will continue to work to create value for our shareholders and their participation in the company’s success and profits. “
Real Estate Company Collector Group Updates that the company’s board of directors has decided on a dividend distribution policy for the year 2022, in which the company will distribute an amount of NIS 25 million to its shareholders. This policy reflects a 40% increase in the amount of profit distribution, compared to the amount announced as part of the company’s dividend policy for 2021. The current distribution amount reflects about half of the owners’ share in the company’s projected FFO for 2022, estimated at NIS 50 million.
It should be noted that the distribution of a dividend of NIS 25 million per year (NIS 0.398 per share) represents a dividend yield of approximately 3.9% in relation to the opening price of the share this morning, which was approximately NIS 10.23.
The dividend will be divided into 4 quarterly payments in the amount of NIS 0.099 per share on average in each quarter, starting from the second quarter of 2022 (for the first quarter of 2022), shortly after the signing and publication of the company’s quarterly or annual reports. It should be emphasized that the above decision should not be considered an undertaking by the company to distribute such a dividend, and this will be considered each time, separately, by the company’s board of directors.
This week, Aspen also reported on an agreement signed by its subsidiary for the sale of real estate in Hadera. The deal will yield a free cash collector in the amount of NIS 59 million and a profit before tax of NIS 13 million.
Aspen also reported that its subsidiary Pai Siam, which coordinates Aspen’s hotel operations, has submitted a draft prospectus for the issuance of bonds on the Tel Aviv Stock Exchange, and that the company intends to act to raise capital as well.