CRESY » Topics » x. Dividends

This excerpt taken from the CRESY 20-F filed Dec 30, 2009.

x. Dividends

Dividend policy of the Company consist in the distribution of an amount up to the highest of a) twenty per cent (20%) of the revenues of “Offices and other Non-Shopping Center Rental Properties” segment, defined in Segment Information (Note 6), as of June 30 of each year, or b) twenty per cent (20%) of Net income defined in the Consolidated Statements of Income as of June 30 of each year. This policy requires that the Company must at all times comply with the covenants imposed by its financial obligations.

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