Altarea announces a drop in its FFO (recurring net income) to 101.2 million euros in 2023 (from 275.4 million in 2022), a net income group share of -472.9 million after changes in value, and an NAV of 115.7 euros per share (-26.3%).

The dividend to be proposed by the real estate group to the AGM on June 5 in respect of the 2023 financial year amounts to eight euros per share, with the option of payment either 100% in cash, or 25% in cash and 75% in shares.

Altarea is targeting a 2024 FFO 'increase, the magnitude of which will depend on the macroeconomic environment', and has a four-year FFO target of 'exceeding the high point of the previous cycle (over 300 million euros)'.

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