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Article: Alpha Pyrenees stands by dividend promise.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- March 20, 2008
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Alpha Pyrenees is tweaking its strategy to honour its 7p a share dividend promise while keeping debt at bay.. Algy Hall
A fair bit has changed in the commercial property world since Alpha Pyrenees was set up in November 2005 to invest in France and Spain. But despite the torrid conditions in the credit market, Alpha is sticking to the plans laid out at float to pay a bumper 7p a share dividend in 2008.
However, given the increased economic uncertainty, the group also now wants to keep the loan-to-value ratio on its properties at around the current level of around 65 per cent, which is well inside the limits set by its banking covenants of about 85 per ...