PREOS GLOBAL OFFICE REAL ESTATE & TECHNOLOGY AG
DGAP-Ad-hoc: PREOS Real Estate AG / Key word(s): Dividend/Miscellaneous Publication of inside information pursuant to Article 17 of the Regulation (EU) PREOS Real Estate AG plans dividend for 2020 and defines long-term dividend policy - Asset portfolio to grow to around EUR 2 billion by the end of 2020 - First dividend payment planned for financial year 2020 by PREOS - Long-term annual dividend yield of 5 percent targeted - Asset portfolio to be increased to EUR 2 billion in 2020 and to EUR 8 billion by 2024 - Parent company publity aims to reduce its stake to 25.01 percent for 2023 Leipzig, 07.08.2020 - The Executive Board and Supervisory Board of PREOS Real Estate AG ("PREOS", ISIN DE000A2LQ850, m:access) have decided on a long-term dividend policy for the company. Accordingly, the payment of a dividend is to be proposed at the next ordinary Shareholders' Meeting for the first time for the current financial year 2020. The total dividend payout is to amount to up to EUR 100 million. A dividend per share of 5 percent of the weighted average PREOS share price in the three months preceding the Shareholders' Meeting is envisaged. This dividend payout is intended to mark the beginning of continuous distributions to shareholders. The targeted dividend yield is 5 percent of the share price. The start of dividend payments is accompanied by the dynamic growth of PREOS. The company's asset portfolio of currently around EUR 1.5 billion is to be expanded to around EUR 2 billion by the end of 2020. PREOS is currently in the exclusive purchasing phase for office properties with a volume of EUR 0.5 billion. By the end of 2024, the portfolio is planned to be expanded to EUR 8 billion with a focus on large-volume office properties in top locations in metropolitan areas such as Frankfurt, London and Paris. PREOS intends to finance growth in the future by involving strategic investors, including by means of capital market instruments. In conjunction with a corresponding necessary broadening of the shareholder base, PREOS was informed by the parent company publity AG, which currently holds around 86 percent of PREOS, that publity is targeting a 25.01 percent stake in PREOS for 2023. Information and Explanation of the Issuer to this News: EXPLANATORY PART Frederik Mehlitz, CEO of PREOS Real Estate AG says: 'PREOS is to become a high-yield dividend stock. We want to offer our shareholders a dividend yield of 5 percent per year. By doing so, we want them to participate in the success of our company beyond the development of our share price through regular distributions. However, I am convinced that this form of passive income through share holdings reflects the wishes of many investors. Our highly profitable and rapidly growing business enables us to meet this investor demand. The planned increase in the free float over the next three years will also help enhance the attractiveness of the PREOS share for investors'. Investor & Public Relations
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07-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | PREOS Real Estate AG |
| Landsteinerstraße 6 | |
| 04103 Leipzig | |
| Germany | |
| Phone: | 0341 261787790 |
| E-mail: | info@preos.de |
| Internet: | www.preos.de |
| ISIN: | DE000A2LQ850 |
| WKN: | A2LQ85 |
| Listed: | Regulated Unofficial Market in Frankfurt, Munich |
| EQS News ID: | 1112657 |
| End of Announcement | DGAP News Service |
1112657 07-Aug-2020 CET/CEST
