The 28th annual general meeting, which was originally scheduled for 18 June 2021, was postponed in connection with the voluntary takeover offer by IMMOFINANZ to S IMMO shareholders that was announced on 19 May. This also resulted in the postponement of resolutions on the use of profit for 2020 and on a dividend.
On 13 July, IMMOFINANZ set 19 October 2021 as the date for the 28th annual general meeting. It will be held as a virtual annual general meeting in accordance with Austrian law (“COVID-19-Verordnung”). For health protection reasons, shareholders and their representatives (with the exception of specially appointed voting representatives) will therefore not be physically present. In view of the strong earnings and financial situation and successful crisis management, the Executive Board and Supervisory Board will make a recommendation to the Annual General Meeting for the 2020 financial year to increase the dividend from EUR 0.55 per share to EUR 0.75 per share. Subject to approval in the Annual General Meeting, the distribution will be classified as a repaymen of capital under Austrian tax law and will be therefore tax-free for natural persons who are resident in Austria and who hold IMMOFINANZ shares as part of their private assets (subject to certain assumptions, e.g. when the total capital repayment exceeds the tax base of the purchased shares).
The documents for the annual general meeting will be published on schedule in the section General Meeting.
The record date for participation in the Annual General Meeting is 9 October 2021 and the dividend payment date is 25 October 2021. For further dates please see our Financial Calendar.
After careful consideration of all relevant circumstances and the possible consequences of the COVID-19 pandemic, the Executive Board and Supervisory Board of IMMOFINANZ AG approved a recommendation to the annual general meeting on 1 October 2020 to waive the dividend for the 2019 financial year and carry forward the balance sheet profit. This recommendation did not represent a departure from the continuous dividend policy generally followed by IMMOFINANZ but was intended to preserve the company’s capital strength in view of the exceptional situation caused by the COVID-19 pandemic. The annual general meeting approved this proposal by a majority of nearly 99%.
The 27th Annual General Meeting has taken place on 1st of October 2020. In order to protect the shareholders and other participants, this was held as a virtual General Meeting and was broadcast live on the Internet.
The resolutions and votes as well as other documents concerning for the AGM can be found here.