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A Socimi from the MAB Pays the Largest Dividend of 2020: Almost €129 Million for its 26 Shareholders

At its General Shareholders' Meeting, the Socimi General de Galerías Comerciales has approved the distribution of a dividend exceeding 128.9 million euros.

Tomás Olivo de General de Galerias Comerciales

At its General Shareholders’ Meeting, the Socimi General de Galerías Comerciales (GGC) has approved the distribution of a dividend amounting to 128.9 million euros to its shareholders. That figure places the remuneration of the company, controlled by the Murcian businessman Tomás Olivo (who has lived in Marbella for many years) and listed on the MAB, above the giants of the Spanish real estate sector, such as Colonial, which is paying its shareholders only 100 million euros.

Despite being a record amount in the current context, where many real estate companies have decided to postpone or cancel their shareholder remuneration as they wait to determine the impact of Covid-19 on their businesses, it is not the largest dividend ever distributed by GGC. In June 2018 , the Socimi approved the distribution of a dividend amounting to 196.56 million euros, which was paid in one installment.

Read the full article in Spanish.

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