Shareholders of shopping center giant Unibail-Rodamco-Westfield (URW) have approved the group's decision not to pay dividends for fiscal year 2020, shaken by the Covid-19 pandemic, nor for the next two years .
In an "uncertain operating environment", Unibail-Rodamco-Westfield, which manages 87 shopping centers in Europe and the United States, including the Forum des Halles in Paris, has decided to suspend the payment of dividends "for fiscal years 2020, 2021 and 2022 ", announced the group at its annual general meeting.
The closures have "resulted in an unprecedented disruption of operations" for the group in 2020, with just 70 days of normal activity, and 93 days of complete shutdown.
As of February 10, half of its centers were still closed.
Despite net rental income down 24% last year, group chairman Jean-Marie Tritant, who arrived at the end of 2020 following the rebellion of shareholders led in particular by Xavier Niel, believes that URW has demonstrated its " resilience "under" extreme "conditions, as soon as restrictions have been partially lifted or relaxed.
The gradual lifting of restrictions "gives the group a high degree of confidence" in the recovery, says URW.
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