Mercialys shares were one of the biggest decliners on the SBF 120 in late morning trading on Thursday, following more cautious statements concerning the next dividend payment.

Last night, on the occasion of the publication of its annual results, the property company announced that food retailers Intermarché, Auchan and Carrefour would soon be replacing the Casino Group banners, thus considerably improving its rental risk profile this year.

For 2023, its recurring net income (RNR) rose by 3.3% to 109 million euros, or 1.17 euros per share, a performance exceeding the target of at least 2% growth.

The retail real estate group plans to propose a dividend of 0.99 euro per share for 2023, up 3.1% year-on-year, representing 85% of net income.

Since 2004, Mercialys has set itself the target of at least 2% growth in net income per share, accompanied by a dividend ranging from 75% to 95% of net income.

However, the latter target is lower than the one set for 2023, i.e. a dividend per share of between 85% and 95% of recurring income.

Following these statements, Mercialys shares lost 3.2% late Thursday morning, after having fallen by nearly 6.5% at the start of the session.

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