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June 13, 2018

F?Y 2017 Earnings Release


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Since inception, Solidere has distributed dividends in 13 out of its 23 years of operations for a total value of US$ 1.2 billion, out of an aggregate net income of US$ 1.6 billion. Solidere stands by its commitment to distribute dividends to shareholders depending on the level of profits and available liquidity after providing for capital expenditure towards infrastructure and real estate development projects.

AGM Resolutions – 2018

The Ordinary General Meeting of The Lebanese Company for the Development and Reconstruction of Beirut Central District, s.a.l. (Solidere) held on July 23rd, 2018 approved the financial statements of the company for the fiscal year ending December 31, 2017 and gave full discharge to the Board of Directors for the management of the company in 2017.

The following members of the Board of Directors were elected for the next three years: Messrs. Mohammad Choucair, Nader Hariri, Hassan Kabbani, Ghazi Youssef, Ricardo Rahme, Nasser Chammaa, Makram Abboud, Raja Salame, Tarek Chehab, Ziad Abou Jamra, and Raphael Sabbagha.

The elected members of the Board of Directors held a meeting post assembly and elected Dr. Nasser Chammaa as Chairman and General Manager.

The General Meeting discussed and approved the proposal of Chairman Dr. Chammaa and a number of shareholders to request from the newly elected Board of Directors a detailed plan for a land sales program whereby the sale can be settled partly through company shares; the plan shall be presented at the General Meeting by end of 2018.

Dividend History

Declaration DateDiv./SharePayment DateDeclared Dividends (USD)Payout RatioDiv. Yield*
29-Jun-960.2015-Jul-9630,918,41395.76%1.79%
30-Jun-970.2514-Jul-9740,367,17268.49%2.27%
29-Jun-980.2515-Jul-9839,351,75350.55%2.08%
23-Jun-03Stock Dividend (1:40)21-Jul-0319,625,55047.70%2.50%
12-Jun-060.6015-Aug-0694,831,10687.38%2.66%
22-Jun-071.0014-Sep-07155,093,702117.35%6.32%
15-Jul-081.0029-Aug-08155,090,83269.18%2.71%
13-Jul-091.1529-Sep-09176,479,95796.59%4.90%
19-Jul-101.1515-Oct-10175,228,43492.61%5.48%
1-Aug-110.40

Stock Dividend (1:30)
31-Oct-1160,912,291

85,987,850
75.14%5.71%
30-Jul-120.25

Stock Dividend (1:50)
15-Oct-1239,316,239

42,744,616
51.68%3.83%
13-Jul-150.10

Stock Dividend (1:50)
12-Oct-15 16,015,415

36,859,996
46.50%2.84%
27-Jun-160.10

Stock Dividend (1:80)
3-Oct-1616,302,491

19,070,295
-40.56%2.32%
*Based on Declaration Date Share Price