- Significant increase in total dividend payout to EUR 5.1 million (previous year: EUR 3.7 million) - All proposed resolutions were approved by a large majority
Berlin, 16 May 2018 – The Annual General Meeting of ACCENTRO Real Estate AG, market leader in residential privatisation (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, has approved payment of a dividend of EUR 0.17 per dividend-bearing share by a large majority (previous year: EUR 0.15). This means that the company is paying out over EUR 5.1 million. This is a significant increase of nearly 40% (previous year: EUR 3.7 million). The payout ratio of 25% is also higher than last year (previous year: 14%). The dividend yield amounts to 2.0% based on the 2017 closing share price.
This higher dividend reflects the success of 2017 as well as a promising business development in the first quarter of 2018. Following this favourable start to the year, the Management Board is expecting significant double-digit percentage growth in sales and an increase of EBIT in the range of EUR 37 million to EUR 40 million for the full year.
Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG, said, “Last year, we paid out a dividend for the first time, and due to our strong business development we have already been able to increase this. We want our shareholders to continue to participate in ACCENTRO’s successful development through continuing dividends.”
In all, 95.64% of the voting nominal capital was represented at this year’s Annual General Meeting. A large majority ratified the Management and Supervisory Board members’ actions, and all other agenda items were approved. The election of Natig Ganiyev, Managing Director of Vestigo Capital Advisors LLP, to the Supervisory Board, the creation of new authorised capital and the authorisation to issue bonds with or without conversion or subscription rights were among the resolutions passed.
ACCENTRO Real Estate AG is a residential property investor and Germany’s market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of condominiums to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party condominium marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
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