Berlin, May 18, 2020 – To support the continued growth strategy of ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3), the Executive Board and Supervisory Board have decided to propose to the Annual General Meeting that the dividend payment for the 2019 fiscal year be suspended. The company’s majority shareholder, Brookline Real Estate S.à.r.l., which currently holds approximately 83.31% of the company’s shares, supports this amendment to the proposal for the appropriation of profits. “Our major shareholder’s willingness to forgo the dividend for the 2019 fiscal year is a clear commitment to our growth strategy,” says Lars Schriewer, CEO of ACCENTRO Real Estate AG. In 2019, ACCENTRO Real Estate AG achieved one of its best annual results to date, with earnings of EUR 26.3 million (2018: EUR 18.3 million). In addition, the company redeemed a bond early in early 2020 and replaced it with a significantly larger one with a volume of EUR 250 million. “The confidence of the capital market and our majority shareholder gives us the opportunity to aggressively drive our expansion forward,” adds Schriewer. A proposal will be made to the 2020 Annual Shareholders’ Meeting to carry forward the entire net income for the 2019 fiscal year to new account, rather than distributing the planned dividend of EUR 0.16 per share. The Annual Shareholders’ Meeting will be held digitally on June 24, 2020.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in housing 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 cities and metropolitan areas in eastern Germany, 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
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ACCENTRO Real Estate AG
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Phone: +49 (0)30 88 71 81 272