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Immofinanz casts doubt on 2014/15 dividend; can't gauge Russia impact
December 17, 2014 / 7:22 PM / 3 years ago

Immofinanz casts doubt on 2014/15 dividend; can't gauge Russia impact

VIENNA, Dec 17 (Reuters) - Austrian real estate company Immofinanz cast doubt over the payment of a dividend for its 2014/15 financial year, as it reported a second-quarter loss of 16.2 million euros ($20.13 million).

The company had previously set a dividend range of 0.15-0.20 euros, but said on Wednesday that payment of a cash dividend depended on its balance sheet. It said an increase in impairment losses to Russian receivables in the coming quarters was likely.

"The effects of the crisis in Ukraine on the commercial development of the Immofinanz target markets, above all Russia, cannot be estimated at the present time," it said in a statement.

$1 = 0.8050 euros Reporting by Shadia Nasralla; Editing by Mark Potter

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