- Significant increase in total dividends to EUR 5.1 million (previous year: EUR 3.7 million) - Shareholders approve all proposed resolutions by a large majority
Berlin, May 16, 2018 – The Annual Shareholders’ Meeting of ACCENTRO Real Estate AG, a leading residential real estate privatization company (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, approved by a large majority the distribution of a dividend of EUR 0.17 per dividend-entitled share (previous year: EUR 0.15). The company will thus distribute over EUR 5.1 million. This represents a significant increase of just under 40% (previous year: EUR 3.7 million). The payout ratio, at 25%, is also above the previous year’s level (previous year: 14%). Based on the year-end share price in 2017, the dividend yield is 2.0%.
The higher dividend is based on a successful 2017 and strong business performance in the first quarter of 2018. Following the encouraging start to the year, the Executive Board expects significant double-digit revenue growth for the full year and an increase in EBIT to between EUR 37 million and EUR 40 million.
Jacopo Mingazzini, Member of the Executive Board of ACCENTRO Real Estate AG: “Last year, we paid a dividend for the first time. We have now been able to increase this dividend thanks to the encouraging business performance. Our shareholders should continue to participate in ACCENTRO’s successful development in the future in the form of a sustainable dividend.”
In total, 95.64% of the voting share capital was represented at this year’s Annual General Meeting. The members of the Executive Board and the Supervisory Board were discharged by a large majority, and all other agenda items were approved. The resolutions included, for example, the election of Mr. Natig Ganiyev, Managing Director of Vestigo Capital Advisors LLP, as a member of the Supervisory Board; the creation of new authorized capital; and the authorization to issue bonds with or without conversion or subscription rights.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the tenant-oriented sale of apartments to owner-occupiers and private investors, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for property owners, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
Contact for Press and Public Relations
Jan Hutterer
Kirchhoff Consult AG
Borselstraße 20
22765 Hamburg
Email: accentro@kirchhoff.de
+49 (0)40 – 609 186 65
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272