Annual General Meeting of VIB Vermögen AG resolves to increase the dividend for the tenth time in a row
- Dividend climbs by almost 9 per cent to EUR 0.65 per ordinary share
- Actions of the Managing and Supervisory Boards officially approved by an
- Considerable approval for the conversion to registered shares
- Resolution approved to increase the size of the Supervisory Board to four
- Former Chief Executive Officer Ludwig Schlosser elected to the Supervisory
Around 56.4 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 portfolio management of commercial properties. As expected, the actions of the members of the Managing and Supervisory Boards in the 2018 financial year were officially approved by a significant majority of the shareholders.
Dividend of EUR 0.65 per ordinary share approved
The joint proposal by the Managing and Supervisory Boards to distribute a dividend of EUR 0.65 per ordinary share with dividend rights for the 2018 financial year (previous year: EUR 0.60) was also met with widespread approval. Based on the share price on December 31, 2018, this corresponds to a dividend yield of some 3 per cent. Therefore, the company will be distributing almost EUR 18 million amongst the 27,579,779 shares with dividend rights.
"We are delighted that 2018 was a double anniversary year. Not only did it see the 25th anniversary of the company, but also the tenth consecutive dividend increase," explained Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG, speaking to shareholders. "The other agenda items, i. e. the conversion to registered shares, the expansion of the Supervisory Board to four members and the election of the company founder to the Supervisory Board, are further milestones for our company. We are very pleased that we were able to win the approval of the shareholders for this."