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    VARN   CH0305285295

VARIA US PROPERTIES AG

(VARN)
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Delayed Swiss Exchange  -  05/23 08:01:40 am EDT
50.00 CHF   -1.57%
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Varia US Properties : Ad Hoc Announcement

12/10/2021 | 12:52am EDT

Media release

Ad hoc announcement pursuant to Art 53. LR

Zug, 10 December 2021

Varia US Properties raises its dividend recommendation and intends to propose a distribution of CHF 3.00 per share based on full-year 2021 results

The Board of Directors of Varia US Properties decided during its last meeting to recommend an increase of the annual distribution per share to CHF 3.00. Therefore, the Board will recommend a true-up of CHF 1.00 per share to the next shareholder meeting in April 2022 that will be paid on top of the four times 50 centimes installement paid since the last shareholder meeting. The dividend payment of CHF 3.00 per share is equivalent to year-on-year growth of 11.1%.

The Board's decision is based on the positive results of the Company during the first ten months of this year and the successful rotation of the portfolio. In the course of 2021, Varia acquired 8 new assets for a total investment over USD 385 million, representing additional 2,500 units. The bond raised in early October was fully invested. One additional acquisition is expected until year end.

The Company also strategically disposed of 10 assets, representing 1,150 units and 16% of the portfolio for a sale price of USD 148 million. All sale proceeds were reinvested into the Company. Blended gross IRR on these disposed assets equals 30% and gross multiple 2.46.

In the months and years to come, Varia US intends to maintain its high level of distributions composed of cash from operations as well as of partial sale proceeds. The remaining sale proceeds will continuously be reinvested in the portfolio further supporting the organic growth of Varia US.

Manuel Leuthold, Chairman of the Board of Directors of Varia US Properties, said: "We are very satisfied with the ongoing strong business development of Varia US. Our strategy based on long-term trends in the US real estate market is working very well and paying off in creating value in the existing portfolio and the assets we recently purchased. Our strong long-term economic return forms the basis for our generation of capital, in which we want our shareholders to participate."

Gubelstrasse 19 • 6300 Zug • Switzerland • T. CH +41 (0)22 552 40 30

• US +1 727 339 66 30

1

info@variausproperties.com • variausproperties.com

Key dates

Next fixed dividend payments

February 11, 2022

Full-year results 2021

March 30, 2022

Annual General Meeting

April 29, 2022

Contact information

Juerg Staehelin, IRF

Phone: +41 43 244 81 51, E-mail:investors@variausproperties.com

About Varia US Properties AG

Varia US Properties AG is a Swiss based real estate company exclusively investing in U.S. multifamily housing with a main focus on secondary and tertiary markets. Established in 2015, the Company acquires, holds, transitions and repositions properties in the boundaries of metropolitan regions of the U.S. in order to secure rental income and value growth. More information: www.variausproperties.com

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning Varia US Properties AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Varia US Properties AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Varia US Properties AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Gubelstrasse 19 • 6300 Zug • Switzerland • T. CH +41 (0)22 552 40 30

• US +1 727 339 66 30

2

info@variausproperties.com • variausproperties.com

Disclaimer

Varia US Properties AG published this content on 10 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 December 2021 05:51:04 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 184 M - -
Net income 2022 - - -
Net Debt 2022 847 M - -
P/E ratio 2022 -
Yield 2022 6,15%
Capitalization 527 M 527 M -
EV / Sales 2022 7,47x
EV / Sales 2023 7,15x
Nbr of Employees -
Free-Float 59,5%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 52,07 $
Average target price 60,44 $
Spread / Average Target 16,1%
Managers and Directors
Manuel Leuthold Chairman
Beat Schwab Independent Non-Executive Director
Stefan Buser Independent Non-Executive Director
Taner Alicehic Executive Director
Patrick Richard Executive Director
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