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Altarea Cogedim proposes 8.7% YOY increase in FY'17 per-share dividend

Altarea Cogedim's board is proposing a dividend of €12.50 per share for the 2017 fiscal year, marking an 8.7% rise from the dividend it paid out for the year-ago period.

The proposal will be put to a vote at the French developer's general shareholders' meeting to be held May 15.

Additionally, Altarea is forecasting funds from operations for 2020 to weigh in at close to €300 million, while expecting its loan to value ratio to be approximately 40%. For its residential business, the developer anticipates its market share in France to top 10% in the same period.