April 29, 2020 / 6:24 AM / a month ago

BRIEF-Arcona Property Fund Postpones 2019 Dividend Payment

April 29 (Reuters) - ARCONA PROPERTY FUND NV:

* 2019 STABLE, 2020 CHALLENGING

* HAVE DECIDED TO POSTPONE DECISION ON AMOUNT AND TIMING OF 2019 FINAL DIVIDEND

* DELIVERED AN OPERATING PROFIT OF € 2.28 MILLION IN 2019, THE SAME TOTAL AS ACHIEVED IN 2018

* ON CORONAVIRUS: NO FORECAST FOR PROFIT FOR 2020 IS CURRENTLY BEING ISSUED

* NET RENTAL INCOME INCREASED FROM € 4.81 MILLION TO € 5.22 MILLION, AN INCREASE OF 8.3%

* THE FUND GREW IN SIZE BY € 12.1 MILLION, FROM € 92 MILLION TO € 104 MILLION, THROUGH ACQUISITIONS IN BULGARIA AND THE UKRAINE

* ON CORONAVIRUS: EXPECT THAT ITS DIVERSE TENANT BASE AND PRUDENT LEVEL OF FINANCING WILL ENABLE IT TO SUCCESSFULLY TRADE THROUGH CRISIS

* MORE THAN 60% OF THE FUND´S DEBT FINANCING WAS RENEWED OR REPAID DURING THE COURSE OF THE YEAR

* THE EPRA NNNAV DECREASED FROM € 13.65 TO € 13.14 PER SHARE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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