Annual General Meeting of VIB Vermögen AG resolves to increase the dividend for the ninth time in a row
- Dividend increasing by nine per cent to EUR 0.60 per ordinary share
- Actions of the Management Board and Supervisory Board officially approved by a significant majority
- Ernst & Young appointed the new auditor
Around 57.4 per cent of the voting-entitled capital was represented at this year’s Annual General Meeting of VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial real estate. As expected, the actions of the members of the Management Board and Supervisory Board in the 2017 financial year were officially approved by a significant majority of the shareholders.
Dividend of EUR 0.60 per ordinary share approved
The joint proposal by the Management Board and Supervisory Board to distribute a dividend of EUR 0.60 per ordinary share with dividend rights for the 2017 financial year was also met with widespread approval (previous year: EUR 0.55 per share). Based on the share price on December 31, 2017, this corresponds to a dividend yield of 2.8 per cent. Therefore, the company will be distributing over EUR 16.5 million amongst the 27,579,779 shares with dividend rights. This means that, since its incorporation, VIB Vermögen has paid a dividend to its shareholders every year and even increased the amount nine times in a row.
"We are happy to have enabled our shareholders to share in the success of our company again this year with an even higher dividend. With our business model, we are able to adapt to changes in the general conditions very well", explained Martin Pfandzelter, CEO of VIB Vermögen AG, to the shareholders. VIB focuses on the in-house development, the acquisition of attractive properties and in addition the strategic expansion of its pipeline for future projects. Beside global influences, the company has to monitor factors such as property prices, interest rates, rents, construction costs and the creditworthiness of tenants. Only a company that brings these components together perfectly can operate so successfully. VIB Vermögen is therefore also well positioned for future growth and further increases in profitability.
Finally, the Annual General Meeting also accepted the proposal of the Supervisory Board to appoint the auditing firm Ernst & Young to audit the annual and consolidated financial statements for the 2018 financial year and review the interim reports. The change took place in order to meet the transparency requirements of the capital market.