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Duna House pays HUF 250 dividend/share

Duna House will pay shareholders a HUF 250.64 dividend per share on eligible series “A” ordinary shares for the 2018 financial year, the listed real estate service provider said in a notice published on the website of the Budapest Stock Exchange (BÉT).

The company also owns 43,396 treasury shares and their dividend is being distributed among ordinary shareholders, in proportion to their number of shares, at HUF 3.16 per share before taxes.

Shareholders had originally approved the payment of a HUF 247.5 per share dividend on last yearʼs earnings at an annual general meeting on April 18.

The starting date of dividend payments is July 25, 2019.

In related news, Duna House said it drew down HUF 1.521 billion from a recently signed credit line from Raiffeisen Bank on July 19. It said it used part of the money to refinance HUF 321.3 million in principal debt to the bank. The remaining HUF 1.2 bln will be used to refinance earlier investments.

Duna House signed a contract with Raiffeisen Bank for a total HUF 2.4 bln seven-year credit line with a drawdown period of nine months on July 2. Loans drawn under the agreement carry a three-month floating rate. Conditions for Duna House include keeping its net bank loan-to-EBITDA ratio under 3.0 and capping its dividend, state news wire MTI reported.