Inaugural interim dividend intended as part of FY 2022 first half earnings results
HONG KONG, July 13, 2022 /PRNewswire/ — The Board of ESR Group Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), APAC’s largest real asset manager powered by the New Economy, has approved the Company’s dividend policy (the “Dividend Policy”) with effect from 13 July 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. In view of the Dividend Policy, the Board intends to commence paying an interim dividend for the financial year ending 31 December 2022 in August 2022 when the interim results of the Company for the six months ending 30 June 2022 are approved, and a further announcement will be made as and when such interim dividend has been approved by the Board.
Jeffrey Perlman, Chairman 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 firmly believes that we can continue investing in ESR’s growth given the strong secular trends underpinning its business while also delivering on its objective to generate returns to shareholders that are sustainable and 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 capital recycling and a further reinforced and robust balance sheet, have supported the Group to not only reach its current scale and earnings resilience, but it positions the Group well for future growth and to deliver long-term value to its stakeholders.”
While the Company intends to declare and pay 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 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 flow and liquidity position and prevailing economic and market conditions and other factors that may impact the business or financial performance of the Group.
The Dividend Policy will be reviewed by the Board from time to time and there is no assurance that dividends will be proposed or declared in any particular amount for any given period.
ESR is APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With US$140.2 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, representing over 95% of GDP in APAC, and also includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allow capital partners and customers to capitalise on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$45 billion. Our purpose – 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 of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index. More information is available at www.esr.com.