Since Allos was created, giving rise to the largest shopping mall company in Brazil, its management had been warning the market that the company would become a large dividend payer. But it’s not enough to just say it, you have to execute it.
The company approved at the Ordinary and Extraordinary General Meeting the payment of R$612 million in dividends. This is the largest volume of dividends in its history, 116% more than in the previous year. The total represents 50% of Allos’ FFO.
“Allos was already giving guidance that it would pay and the company’s goal is to make this a constant”, says a professional who follows the sector. In addition to paying dividends, the company also announces R$526 million in share repurchases since October 2023.
The payment of dividends comes in line with the company’s goal of maintaining two firm pillars. On one side, expansion and on the other, shareholder returns. Recently, Allos, which operates 58 shopping malls, 47 of which are owned, raised R$1.2 billion in a CRI.
The money will be used for expansion, paying off debts and also for acquisitions. One of the targets is the RioSul shopping mall, in Rio de Janeiro. Allos intends to buy 54% of the asset, currently in the hands of Canadian Brookfield, in a deal that could exceed R$1 billion.
Allos is valued at R$11.4 billion on B3. For the year, its shares fell 18.9%.
