First interim dividend planned as part of the results for the first half of 2022
HONG KONG, July 13, 2022 /PRNewswire/ — The Board of Directors of ESR Group Limited (“ESR” or the “Company”, together with its subsidiaries as a “Group”; stock code SEHK: 1821), the largest asset manager APAC Real Estate Powered by the New Economy, has approved the Company’s dividend policy (the “Dividend Policy”) effective July 13, 2022.
Under the dividend policy, the Company proposes to commence paying a dividend in each financial year to shareholders of the Company, the amount of which will be determined by the Board after taking into account the factors set out below. Given the dividend policy, the board of directors intends to start paying an interim dividend for the year ending December 31, 2022 in August 2022 when the interim results of the Company for the half-year ended June 30, 2022 are approved, and a further announcement will be made as this interim dividend is approved by the Board.
Jeffrey PerlmanChairman of ESR Group, said, “The announcement of the company’s dividend policy is a major milestone and further validates the overall strength and sustainability of our business. The Board of Directors strongly believes that we can continue to invest in the growth of ESR given the strong secular trends that underpin its business while achieving its goal of generating sustainable shareholder returns in line with the long-term growth of the Company. These strong fundamental drivers, combined with the recent acquisition and integration of ARA, the active recycling of capital and a further strengthened and solid balance sheet, have enabled the Group not only to achieve its current size and earnings resilience, but also to position the Group well for future growth and create long-term value for its stakeholders.”
Although the Company intends to declare and pay a dividend in the future, the amount of any dividend payment for any financial year will be subject to, among other things, the Company maintaining an optimal capital structure in order to ensure that adequate capital resources are available for business growth. and investment opportunities; the actual and expected financial performance of the Group; the availability of dividends received by the Company from its subsidiaries; the Group’s cash flows and liquidity position and prevailing economic and market conditions and other factors that may affect the Group’s business or financial performance.
The dividend policy will be reviewed by the Board from time to time and there can be no assurance that dividends will be proposed or declared in any particular amount for any given period.
ESR is APAC’s largest real estate asset manager powered by the new economy and the third largest listed real estate investment manager in the world. With US$140.2 billion of total assets under management (AUM), our fully integrated development and investment management platform spans major APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and South East Asiaaccounting for over 95% of GDP in APAC, and also includes a growing presence in Europe and in the United States We offer a diverse range of real estate asset investment solutions and new economy real estate development opportunities across our private fund businesses, which enable financial partners and clients to capitalize on APAC’s most important secular trends. ESR is the largest REIT sponsor and manager in APAC with a total AUM of 45 billion US dollars. Our goal – Space and investment solutions for a sustainable future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders in our business. Listed on the main board of the Bourse de hong kong, ESR is part of the FTSE Global Equity (Large Cap) Index Series, the Hang Seng Composite Index and the MSCI Hong Kong Index. More information is available at www.esr.com.