Pero wins dividend pay-out

The directors of Mike Pero Real Estate (MPRE) yesterday signed an agreement to pay out a $6.75 million dividend to its shareholders.

MPRE chief executive Pero is one of the shareholders, while the other is Mike Pero Mortgages Ltd (MPM) which is now owned solely by the Australian-based Liberty Financial Group.

Pero has long wanted a dividend to be paid out to MPRE shareholders.

This was initially to repay a debt to MPRE but, more recently, it was to repay money he borrowed from the Chow brothers to settle the MPRE debt.