PPHE Hotel Group Limited Capital returns policy and payment of dividend (7497N)
27 Settembre 2023 - 8:00AM
UK Regulatory
TIDMPPH
RNS Number : 7497N
PPHE Hotel Group Limited
27 September 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014, as it
forms part of domestic law by virtue of The European Union
(Withdrawal) Act 2018. On publication of this information such
information shall be considered to be in the public domain.
27 September 2023
PPHE Hotel Group Limited
("PPHE" or the "Group")
Update on capital returns policy and payment of Interim
dividend
PPHE Hotel Group, the international hospitality real estate
group which develops, owns and operates hotels and resorts,
provides an update on its capital returns policy and announces the
payment of an interim dividend of 16 pence per share, a
year-on-year increase of 13 pence per share.
As announced on 31 August 2023, PPHE's unaudited Interim Results
for the six months ended 30 June 2023 demonstrated strong
operational and financial progress, with revenue growth of 59% to
GBP180.0 million and EBITDA growth of 166% to GBP45.2 million, with
EBITDA now recovered to pre-pandemic levels. Against this context
of strong trading results and positive business momentum, the Group
announced that it was in a position to return to its historic
capital returns policy of distributing approximately 30% of
adjusted EPRA earnings (reported at GBP1.06 per share for the
12-month period to 30 June 2023) and would therefore be consulting
with shareholders around the most appropriate and effective means
for such a distribution to take place.
The Group has now completed this consultation process and wishes
to update all shareholders on the outcome. The Group discussed a
range of potential capital return mechanisms; including dividends,
share buybacks, tender offers or a combination thereof. A broad
range of opinions and preferences were expressed by shareholders
during this exercise.
The Group has listened carefully to all the viewpoints provided
and wishes to thank shareholders for their engagement in this
process.
Following the above, the Board has taken the decision to approve
the payment of an interim dividend of 16 pence per share, for the
period ended 30 June 2023, to all shareholders who are on the
register on 6 October 2023. This represents a year-on-year increase
of 13 pence per share (H1 2022: 3 pence per share). The interim
dividend is to be paid on 27 October 2023.
The Board will continue to have the capital returns policy under
review.
Boris Ivesha, President & Chief Executive Officer, PPHE
Hotel Group, commented:
"We are pleased that our strong performance enables us to reward
our shareholders for their continued trust and support by returning
to our historical capital returns policy. We would like to thank
our shareholders for sharing their views, which the Board have
considered in detail. We are delighted to approve an enhanced
interim dividend of 16 pence per share. The Board will continue to
keep its options under active review as it moves forward. "
The person responsible for making this announcement is Daniel
Kos (Chief Financial Officer & Executive Director).
Enquiries:
PPHE Hotel Group Limited
Daniel Kos,
Chief Financial Officer & Executive Director
Robert Henke Tel: +31 (0)20 717 8600
Executive Vice President of Commercial
Affairs
Hudson Sandler
Wendy Baker / Charlotte Cobb / India Laidlaw Tel: +44 (0)20 7796
4133
Email: pphe@hudsonsandler.com
Notes to Editors
PPHE Hotel Group is an international hospitality real estate
company, with a GBP2.0 billion portfolio, valued as at December
2022 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily
prime freehold and long leasehold assets in Europe.
Through its subsidiaries, jointly controlled entities and
associates it owns, co-owns, develops, leases, operates and
franchises hospitality real estate. Its portfolio includes
full-service upscale, upper upscale and lifestyle hotels in major
gateway cities and regional centres, as well as hotel, resort and
campsite properties in select resort destinations. The Group's
strategy is to grow its portfolio of core upper upscale city centre
hotels, leisure and outdoor hospitality and hospitality management
platform.
PPHE Hotel Group benefits from having an exclusive and perpetual
licence from the Radisson Hotel Group, one of the world's largest
hotel groups, to develop and operate Park Plaza(R) branded hotels
and resorts in Europe, the Middle East and Africa. In addition,
PPHE Hotel Group wholly owns, and operates under, the art'otel(R)
brand and its Croatian subsidiary owns, and operates under, the
Arena Hotels & Apartments(R) and Arena Campsites(R) brands.
PPHE Hotel Group is a Guernsey registered company with shares
listed on the London Stock Exchange. PPHE Hotel Group also holds a
controlling ownership interest in Arena Hospitality Group, whose
shares are listed on the Prime market of the Zagreb Stock
Exchange.
Company websites: www.pphe.com |
www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com | www.artotel.com | www.arenahotels.com |
www.arenacampsites.com
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