In view of the Group’s solid capital base, the Executive Board will make a recommendation to the 28th annual general meeting to distribute a dividend of EUR 0.55 per share. That represents a dividend yield of 3.2% based on the closing price for 2020.
In connection with the takeover offer launched by IMMOFINANZ to the shareholders of S IMMO published on 19 May 2021, the Executive Board and Supervisory Board of IMMOFINANZ have decided to postpone the 28th ordinary shareholders’ meeting of IMMOFINANZ. It is planned that the ordinary shareholders’ meeting is scheduled on a date after the settlement of the takeover offer, in order to ensure from the outset that an ordinary shareholders’ meeting of IMMOFINANZ is not influenced by the takeover offer. For details, please see the Corporate News of 19 May 2021.
We will inform accordingly about the new date of the 28th ordinary shareholders’ meeting.
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.