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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 - 2017

The Ordinary General Meeting of The Lebanese Company for the Development and Reconstruction of Beirut Central District, s.a.l. (Solidere) held its annual assembly on June 19th, 2017 where shareholders ratified the financial results for fiscal year 2016 and approved to retain 2016 profits to preserve the company liquidity and financial health.

The Chairman of the Board of Directors stated that the company is still following a prudent strategy given the local and regional economic conditions, hoping that the recent political détente would bring new investments, encourage new land sales and enable existing investors to pay their dues at their respective maturities, which would lead to improved financial results.

The Chairman affirmed that the Company was able to meet its 2016 expectations where net profits reached $63.1 million. The Company has a solid asset base mainly from its available land bank and its income generating investment properties, and currently strives to attract investors and generate new land sales. The Chairman indicated that Solidere has completed the infrastructure in the reclaimed area, as well as the new road that links Martyre Square to the Port of Beirut, and will begin works in the Eastern marina, thus achieving most of its commitments towards the government as per its mandate.

The Chairman clarified that the current duration of Solidere is 35 years from its date of incorporation on May 10, 1994 as per Decree 2005/15909, noting that the Administrative Court – Conseil d’ Etat rejected in 2016 all appeals against that Decree.

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