DGAP-News
DIC Asset AG AGM approves dividend increase
DGAP-News: DIC Asset AG / Key word(s): AGM/EGM
DIC Asset AG AGM approves dividend increase
05.07.2016 / 16:40
The issuer is solely responsible for the content of this announcement.
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DIC Asset AG AGM approves dividend increase
05.07.2016 / 16:40
The issuer is solely responsible for the content of this announcement.
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Press Release
Frankfurt, 5 July 2016
DIC Asset AG AGM approves dividend increase
- All agenda items approved by clear majority votes
- Dividend increase for 2015, to EUR 0.37 per share (2014: EUR 0.35)
- Ulrich Höller confirmed as member of the Supervisory Board
- EUR 87 million in disposals as at end of H1
- Expanding the funds business with two new funds
- Management Board confirms guidance for 2016 (FFO: EUR 43 - 45 million)
Today's shareholder meeting of DIC Asset AG (German Securities ID A1X3XX /
ISIN DE000A1X3XX4), held in Frankfurt/Main, Germany, has approved a
dividend of EUR 0.37 per share for the 2015 financial year (2014: EUR
0.35). The dividend rise is appropriate, following a successful conclusion
to 2015 and a good start into the current financial year. Based on the
share price as at end of June 2016, the dividend yield exceeds 4 percent.
With appr. 67 percent of share capital present, the shareholders approved
all proposals on the agenda with clear majorities (please see the table
below for a detailed analysis of voting results). Ulrich Höller, CEO of GEG
German Real Estate Group, was confirmed as a member of the Supervisory
Board. The shareholder meeting ended after around 5 hours at 3:07 pm CEST.
Aydin Karaduman, CEO of DIC Asset AG, said: "We successfully concluded our
programme for 2015. Above all, we reduced our debt ratio to below 60
percent. Following the consolidation, we are now focusing on generating
growth. We will pursue an active asset management approach to increase the
quality of our real estate portfolio, and we will expand assets under
management in our funds and third party businesses. Our vertically
integrated management platform allows us to focus on stable rental cash
flows from our Commercial Portfolio and rising management fees in our funds
and third party businesses. At the same time, the more volatile development
projects and existing joint-venture structures will be divested."
DIC Asset AG has sold EUR 87 million in property to date this year, thereof
EUR 33 million from the Commercial Portfolio and EUR 54 million from Co-
Investments. The disposals achieved an average mark-up of more than 10 per
cent over the most recent market value determined. Lease contracts signed
during the first six months of 2016 represented total annualised rental
income of around EUR 15 million. Of this figure, EUR 5 million were
Frankfurt, 5 July 2016
DIC Asset AG AGM approves dividend increase
- All agenda items approved by clear majority votes
- Dividend increase for 2015, to EUR 0.37 per share (2014: EUR 0.35)
- Ulrich Höller confirmed as member of the Supervisory Board
- EUR 87 million in disposals as at end of H1
- Expanding the funds business with two new funds
- Management Board confirms guidance for 2016 (FFO: EUR 43 - 45 million)
Today's shareholder meeting of DIC Asset AG (German Securities ID A1X3XX /
ISIN DE000A1X3XX4), held in Frankfurt/Main, Germany, has approved a
dividend of EUR 0.37 per share for the 2015 financial year (2014: EUR
0.35). The dividend rise is appropriate, following a successful conclusion
to 2015 and a good start into the current financial year. Based on the
share price as at end of June 2016, the dividend yield exceeds 4 percent.
With appr. 67 percent of share capital present, the shareholders approved
all proposals on the agenda with clear majorities (please see the table
below for a detailed analysis of voting results). Ulrich Höller, CEO of GEG
German Real Estate Group, was confirmed as a member of the Supervisory
Board. The shareholder meeting ended after around 5 hours at 3:07 pm CEST.
Aydin Karaduman, CEO of DIC Asset AG, said: "We successfully concluded our
programme for 2015. Above all, we reduced our debt ratio to below 60
percent. Following the consolidation, we are now focusing on generating
growth. We will pursue an active asset management approach to increase the
quality of our real estate portfolio, and we will expand assets under
management in our funds and third party businesses. Our vertically
integrated management platform allows us to focus on stable rental cash
flows from our Commercial Portfolio and rising management fees in our funds
and third party businesses. At the same time, the more volatile development
projects and existing joint-venture structures will be divested."
DIC Asset AG has sold EUR 87 million in property to date this year, thereof
EUR 33 million from the Commercial Portfolio and EUR 54 million from Co-
Investments. The disposals achieved an average mark-up of more than 10 per
cent over the most recent market value determined. Lease contracts signed
during the first six months of 2016 represented total annualised rental
income of around EUR 15 million. Of this figure, EUR 5 million were
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