Homburg Invest Inc. clarifies dividend policy
(Thomson Reuters ONE) -
Halifax, Nova Scotia, September 28, 2010 (TSX: HII.A & HII.B and Euronext:Hll -
Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("HII" or "the
Company") announces HII wishes to clarify its dividend policy and that it
intends to market its 80% interest in 9 joint ventures in the United States with
Cedar Shopping Centers.
On March 2, 2009 the Company announced the following dividend policy:
a) Dividends when considered and if thought fit to approve and declare by
the Board of Directors will be paid annually in July; and
b) Dividends will be paid in cash.
The Company confirms that there will be no dividend for fiscal 2009 that would
be paid in 2010, and the decision with respect to a dividend for fiscal 2010
will be announced in June 2011.
The Company also announces it has engaged TD Securities Inc. as the Company's
exclusive agent to market its 80% interest in 8 joint ventures in Pennsylvania,
and 1 in Massachusetts. The properties are all grocery anchored retail centers.
Homburg Invest Inc. owns and develops a diversified portfolio of quality
commercial real estate including office, retail, industrial and development
properties throughout Europe and the United States, as well as 41.3% of the
units of Homburg Canada Real Estate Investment Trust. The head office of the
Company is located in Halifax, Nova Scotia.
For further information, please contact:
Mr. Richard Homburg,
Chairman and CEO
Homburg Invest Inc.
902-468-3395
or
J. Richard Stolle
President and COO
Homburg Invest Inc.
31-20-573-3855
This news release may contain statements which by their nature are forward
looking and express the Company's beliefs, expectations or intentions regarding
future performance, future events or trends. Forward looking statements are made
by the Company in good faith, given management's expectations or intentions
however, they are subject to market conditions, acquisitions, occupancy rates,
capital requirements, sources of funds, expense levels, operating performance
and other matters. Therefore, forward looking statements contain assumptions
which are subject to various factors including: unknown risks and uncertainties:
general economic conditions; local market factors; performance of other third
parties; environmental concerns; and interest rates, any of which may cause
actual results to differ from the Company's good faith beliefs, expectations or
intentions which have been expressed in or may be implied from this news
release. Therefore, forward looking statements are not guarantees of future
performance and are subject to known and unknown risks. Information and
statements in this document, other than historical information, should be
considered forward-looking and reflect management's current views of future
events and financial performance that involve a number of risks and
uncertainties. Factors that could cause actual results to differ materially
include, but are not limited to, the following: general economic conditions and
developments within the real estate industry, competition and the management of
growth. The Toronto Stock Exchange has neither approved nor disapproved of the
information contained herein.
[HUG#1447354]
PDF version of the press release:
http://hugin.info/138798/R/1447354/389996.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Homburg Invest Inc. via Thomson Reuters ONE
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