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Atrium European reinstates dividends, announces strategic review

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Atrium European reinstates dividends, announces strategic review

Atrium European Real Estate Ltd. said its board decided to reinstate dividends for the third and fourth quarters and, along with management, is undertaking a strategic review to identify growth opportunities.

Atrium will pay a total of 13.5 euro cents per share, equivalent to 6.75 cents per share per quarter, on Dec. 30 to shareholders on register as of Dec. 23. The company stopped paying dividends in connection with Gazit-Globe Ltd.'s takeover offer. The offer was revoked as it failed to secure approval from the target's minority shareholders.

The retail-focused company said the strategic review is looking at leveraging its operating platform in Poland and the Czech Republic, and continued execution of the asset rotation program.

Atrium will also consider densification of core retail assets and diversification into other classes of real estate, including focusing on residential assets for rent. In line with the diversification plan, the company agreed to an option to acquire a controlling stake in a residential development with roughly 900 apartments in Warsaw, Poland.