Varia US plans dividend increase
Varia US Properties reports significant growth for fiscal 2021. The dividend is therefore also expected to increase.
According to preliminary figures, Varia US Properties has increased total income in 2021 by a good quarter compared to the previous year (2020: $129.7 million). Profits from property sales have even doubled, they were still at 19.9 million dollars in 2020, informs the real estate company focused on the American residential real estate market.
Unrealized gains on remeasurement would increase approximately six-fold in 2021 compared to the prior year (2020: $22.7 million), primarily due to the shift in discount rates in the U.S. market, it said. Total revenue for 2021 would double year-over-year, Varia US added. In 2020, the figure was $152.4 million. Ebitda (operating profit less unrealized revaluations) was up about a third from $60.3 million a year earlier, according to preliminary figures.
Because of these "excellent" results, the dividend forecast is to be increased from CHF 3.00 per share to CHF 3.20 per share. Varia US plans to publish the complete and audited financial statements at the end of March. (ah)
