IMMOFINANZ: Recommendation by the Executive and Supervisory Boards to the AGM to waive the dividend for 2019

After careful consideration of all circumstances known at the present time and the possible consequences of the Covid-19 pandemic, the Executive Board and Supervisory Board of IMMOFINANZ AG today approved a recommendation to the annual general meeting on 1 October 2020 which calls for the waiver of a dividend for the 2019 financial year and the carry forward of balance sheet profit. This recommendation does not represent a departure from the continuous dividend policy generally followed by IMMOFINANZ, but is intended to preserve the company’s capital strength in view of the exceptional situation caused by the Covid-19 pandemic.

“We are living in extraordinary times which are characterised by significant uncertainty over further recovery. With a view towards the long-term development of our company, we are convinced that we must act cautiously and protect IMMOFINANZ’s ability to act from a position of strength during the crisis as well as the ability to utilise attractive opportunities and quickly return to a profitable growth course with acquisitions and development projects“, explained Ronny Pecik, CEO of IMMOFINANZ.