Unibail-Rodamco-Westfield SE: dividend announcement for the financial year 2019
12 Marzo 2020 - 7:00PM
Unibail-Rodamco-Westfield SE: dividend announcement for the
financial year 2019
Paris, Amsterdam, March 12, 2020
Press release
Unibail-Rodamco-Westfield SE: dividend
announcement for the financial year 2019
The stapled shares of Unibail-Rodamco-Westfield
(“URW”) are composed of one share of Unibail-Rodamco-Westfield SE
(“URW SE”) and one class A share of WFD Unibail-Rodamco N.V.
For the financial year 2019, URW proposes a cash
dividend of €10.80 per stapled share. Subject to the approval of
the URW SE Annual General Meeting (“AGM”), the dividend for 2019
will be paid by URW SE as follows:
- An interim dividend of €5.40 per share on March 26, 2020
(ex-dividend date March 24, 2020); and
- Subject to approval of the URW SE AGM, a final dividend of
€5.40 per share on July 6, 2020 (ex-dividend date July 2,
2020).
Based on the 2019 statutory accounts of URW SE
(the parent company), there is €916.7 Mn of income available for
distribution. The SIIC dividend distribution obligation is €858.4
Mn and, after payment of the proposed dividend, this obligation
will have been met for 2019.
Assuming approval by the URW SE AGM to be held
on May 15, 2020:
- €6.63 of the dividend will be paid from URW SE’s tax exempt
real estate activities (the “SIIC dividend”).
For French tax residents, the SIIC dividend will
not be eligible for the tax exemption provided for under the
parent-subsidiary regime when received by institutional
shareholders that are subject to corporate income tax. A 12.8% flat
tax, plus 17.2% of social charges, will be withheld for individual
shareholders. Individual shareholders may elect to pay income tax
at the standard progressive rate (without the benefit of the 40%
rebate) instead of paying the flat tax at 12.8%.
For non-French tax residents, the SIIC dividend
will bear French withholding tax (28% for institutional
shareholders and 12.8% for individual shareholders) reduced by the
provisions of applicable double tax treaties. For French
Undertakings for Collective Investments (UCI) and comparable
non-French UCIs, a 15% withholding tax will be levied on the SIIC
dividend.
- €0.17 of dividend will be paid from URW SE’s non-tax
exempt earnings (the “non-SIIC dividend”).
For French tax residents, the non-SIIC dividend
will be eligible for the tax exemption provided for under the
parent-subsidiary regime when received by institutional
shareholders subject to French corporate income tax. The 12.8% flat
tax, plus 17.2% of social charges, will be withheld for individual
shareholders. Individual shareholders may elect to pay income tax
at the standard progressive rate (with the benefit of the 40%
rebate) instead of paying the flat tax at 12.8%.
For non-French tax residents, the non-SIIC
dividend will bear applicable French withholding tax (28% for
institutional shareholders and 12.8% for individual shareholders)
reduced by the provisions of applicable double tax treaties.
Non-French UCIs could be exempt from the withholding tax if certain
conditions are met.
- The remaining €4.00 will be paid from URW SE’s “share
premium” account.
The distribution of the share premium will
qualify as a repayment of capital according to article 112, 1° of
the French tax code. Consequently, the portion of the dividend
corresponding to the share premium distribution will not be subject
to French income taxes and related social charges in 2020. However,
this amount will reduce the stapled shares cost price and will
therefore be subject to capital gain tax upon disposal.
Shareholders and CHESS Depositary Interest
holders should consult with their tax advisor regarding the local
tax treatment of their dividend income.
For further information, please
contact:
Investor Relations Samuel WarwoodMaarten
Otte +33 1 76 77 58 02 Maarten.otte@urw.com
Media Relations Tiphaine Bannelier-Sudérie
+33 1 76 77 57 94 Tiphaine.Bannelier-Suderie@urw.com
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is the premier global
developer and operator of Flagship destinations, with a portfolio
valued at €65.3 Bn as at December 31, 2019, of which 86% in retail,
6% in offices, 5% in convention & exhibition venues and 3% in
services. Currently, the Group owns and operates 90 shopping
centres, including 55 Flagships in the most dynamic cities in
Europe and the United States. Its centres welcome 1.2 billion
visits per year. Present on 2 continents and in 12 countries,
Unibail-Rodamco-Westfield provides a unique platform for retailers
and brand events, and offers an exceptional and constantly renewed
experience for customers. With the support of its 3,600
professionals and an unparalleled track-record and know-how,
Unibail-Rodamco-Westfield is ideally positioned to generate
superior value and develop world-class projects. The Group has a
development pipeline of €8.3 Bn.Unibail-Rodamco-Westfield
distinguishes itself by its Better Places 2030 agenda, that sets
its ambition to create better places that respect the highest
environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext
Amsterdam and Euronext Paris (Euronext ticker: URW), with a
secondary listing in Australia through Chess Depositary Interests.
The Group benefits from an A rating from Standard & Poor’s and
from an A2 rating from Moody’s.
For more information, please visit
www.urw.comVisit our Media Library at
https://mediacentre.urw.comFollow the Group updates on Twitter
@urw_group, Linkedin @Unibail-Rodamco-Westfield and Instagram
@urw_groupAccess the URW 2018 report at
https://report.urw.com/2018/
- Unibail-Rodamco-Westfield SE dividend announcement for the
financial year 2019
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