Increase in dividend per share by 8% y-o-y and announcement of future dividend strategy
Augsburg, 20 March 2019. The Managing Board and the Supervisory Board of PATRIZIA Immobilien AG will propose to the Annual General Meeting 2019 to use the net balance sheet profit of the financial year 2018 for a dividend distribution in the amount of 0.27 EUR per dividend entitled share.
The dividend payment of EUR 0.27 per share is equivalent to y-o-y (year-on-year) growth of EUR 0.02 per share or 8%. The dividend shall be paid as an all cash dividend, i.e. the scrip dividend offer for FY 2017 will not be repeated for the FY 2018 dividend payment.
The increase offers shareholders participation in the improved profitability of the Group while at the same time providing PATRIZIA the financial flexibility for the continued envisaged organic and inorganic growth.
The Group’s future dividend strategy will be based on the annual growth rate of the Group’s Assets under Management and management fees (as reported in the Group’s Annual Report). They will form the basis for the dividend proposal to the Group’s shareholders.
Further details of the Group’s FY 2018 strong performance are provided in the Group’s FY 2018 Annual Report published today.