DGAP-News: Vonovia SE / Key word(s): AGM/EGM/Real Estate
2016-05-12 / 14:12
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2016 Annual General Meeting: Vonovia SE Pays 27 Percent More Dividend
- Annual General Meeting resolves on a dividend in the amount of EUR 0.94 per share
- Dr. Ute Geipel-Faber and Dr. Ariane Reinhart appointed to the Supervisory Board
Düsseldorf/Bochum, Germany, May 12, 2016 - The Management Board of Vonovia SE ("Vonovia") presented the results of the 2015 fiscal year today to the company's shareholders at the Annual General Meeting. On the basis of the positive course of business in the first three months of the current year, Vonovia is improving its forecast for 2016 fiscal year.
The shareholders followed the proposal of the Management and Supervisory Boards to distribute a dividend of EUR 0.94 per share for the 2015 fiscal year. This corresponds to an increase of 27 % compared to the previous year.
"We have performed extremely strongly over the last three years. With our promotion to the DAX on September 21, 2015, this performance reached a new high. Since our stock market flotation three years ago, our dividend has risen by 40 %, with our share price even climbing by 80 %. We are therefore offering our shareholders both an increase in value and an appropriate dividend distribution," said Rolf Buch, CEO of Vonovia SE, speaking in front of about 250 shareholders and guests.
"We are focused squarely on both the requirements of our shareholders and the satisfaction of our tenants. Our strategy is a resounding success. The results from the previous fiscal year provide clear proof of our operating strength. We will systematically pursue this same course," Buch added.
Vonovia continued to pursue its successful course in the first three months of 2016, significantly improving all relevant key figures. On the basis of the positive course of business, Vonovia is improving its forecast for the 2016 fiscal year. In respect of FFO 1, an increase of 20 % is expected compared with 2015, taking the total to between EUR 720 million and EUR 740 million. This works out at an expected FFO 1 per share of between EUR 1.55 and EUR 1.59.
Rolf Buch: "We will remain true to our commitment of letting our shareholders share in our company's success. For 2016, Vonovia plans to distribute a dividend of EUR 1.05 per share. This is a further increase of roughly 12 % compared with 2015."
The Annual General Meeting also resolved to create new approved and conditional capital. With the current authorizations, this is at the disposal of the Management Board in the amount of 50 % of share capital. "As a result, we are laying the foundation for further internal and external growth while further strengthening our financing structures," said Rolf Buch.
The Annual General Meeting appointed Dr. Ariane Reinhart, a lawyer by profession, as a new member of the Supervisory Board of Vonovia SE, thus following the recommendation of the supervisory body, which nominated her at the end of March. Furthermore, Dr. Ute Geipel-Faber was confirmed as a member of the Supervisory Board.
The Annual General Meeting approved all resolutions proposed by the Management and Supervisory Boards with a large majority. The detailed voting results will be published at www.vonovia.de.
Vonovia SE is Germany's leading nationwide residential real estate company. Vonovia currently owns and manages around 344,000 residential units in all of Germany's attractive cities and regions. Its portfolio is worth approximately EUR 24 billion. An additional 54,000 or so third-party apartments are also managed by Vonovia. As a modern service company, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's continued successful development. Accordingly, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The creation of new residences by way of infill development is also gaining in importance.
The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of 6,700 employees.
Approval: Regulated Market / Prime Standard, Frankfurt Stock Exchange
Common code: 094567408
Registered headquarters of Vonovia SE: Münsterstrasse 248, 40470 Düsseldorf, Germany
Business address of Vonovia SE: Philippstrasse 3, 44803 Bochum, Germany
This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute appropriate indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.
The shares mentioned herein have not been and will not be registered in accordance with the provisions of the currently applicable version of the U.S. Securities Act of 1933 ("Securities Act") or with a securities regulatory body of a federal state or other legal system of the United States of America. Shares may only be sold or offered for sale in the United States following prior registration in line with the provisions of the Securities Act, or without registration due to an exemption from the registration requirement pursuant to the provisions of the Securities Act. There is no public offering in the United States. Insofar as the shares of Vonovia SE may not, in the view of Vonovia SE, be offered to a U.S. shareholder or transferred to the same in accordance with the provisions of the U.S. Securities Act of 1933, any U.S. shareholder who accepts this offer in a valid manner will receive, in lieu of the number of Vonovia SE shares to which they would otherwise have been entitled, a corresponding cash payment in euros arising from the disposal of the number of Vonovia SE shares concerned.
2016-05-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de