Dividend Distributions
Ordinary Units
PEPR typically distributes substantially all of its distributable cash flow available to ordinary unitholders on a quarterly basis, whilst providing for anticipated capital expenditure and retaining discretion to reinvest disposal proceeds.
In December 2008, the Board agreed to suspend ordinary dividend payments, including the Q4 2008 distribution, as a condition for a debt covenant amendment on PEPR’s senior unsecured Credit Facility and as part of PEPR's strategic initiatives to enhance liquidity. In October 2010, PEPR received approval from the bank syndicate on its unsecured credit facility to partially remove the restrictions on dividend payments.
PEPR intends to continue to retain distributable cash flow for the foreseeable future to further delever the business to a more conservative level.
|
Ordinary Dividend |
Amount per unit (€) | Ex-dividend date | Record date | Payment date |
|---|---|---|---|---|
| Q3 2008 | 0.183166 | 27 October 2008 | 29 October 2008 | 5 November 2008 |
| Q2 2008 | 0.185843 | 28 July2008 | 30 July 2008 | 5 August 2008 |
| Q1 2008 | 0.196013 | 28 April 2008 | 30 April 2008 | 6 May 2008 |
| Q4 2007 | 0.220315 | 11 February 2008 | 13 February 2008 | 14 February 2008 |
| Q3 2007 | 0.200659 | 29 October 2007 | 31 October 2007 | 06 November 2007 |
| Q2 2007 | 0.232293 | 30 July 2007 | 01 August 2007 | 07 August 2007 |
| Q1 2007 | 0.221766 | 24 April 2007 | 26 April 2007 | 30 April 2007 |
| Q4 2006(1) | 0.202098 | 24 January 2007 | 23 January 2007 | 30 January 2007 |
(1) period from 27 September 2006, the date of the IPO, to 31 December 2006
PEPR Class A(1) Convertible Preferred Units
PEPR preferred units pay a cumulative cash distribution of 10.5% per annum, paid quarterly in arrears, which may be deferred for prudent amortisation of debt.
|
Preferred Dividend |
Amount per unit (€) | Ex-dividend date | Record date | Payment date |
|---|---|---|---|---|
| Q3 2011 | 0.159122 | 31 October 2011 | 2 November 2011 | 4 November 2011 |
| Q2 2011 | 0.157392 | 1 August 2011 | 3 August 2011 | 5 August 2011 |
| Q1 2011 | 0.155663 | 2 May 2011 | 4 May 2011 | 6 May 2011 |
| Q4 2010 | 0.159122 | 8 February 2011 | 10 February 2011 | 14 February 2011 |
| Q3 2010 | 0.159122 | 1 November 2010 | 3 November 2010 | 5 November 2010 |
| Q2 2010 | 0.157392 | 23 July 2010 | 27 July 2010 | 30 July 2010 |
| Q1 2010 | 0.155663 | 30 April 2010 | 4 May 2010 | 5 May 2010 |
| Q4 2009(2) | 0.015566 | 09 February 2010 | 11 February 2010 | 12 February 2010 |
(2) period from 23 December 2009, the date of listing, to 31 December 2009
