VIB Vermoegen : Annual General Meeting of VIB Vermögen AG resolves to increase the dividend for the eleventh time in a row

VIB Vermögen AG, a company specialising in the development, acquisition and portfolio man-agement of commercial properties, yesterday held its Annual General Meeting in virtual form for the first time.

Some 51.3 per cent of the voting-entitled capital attended the web-based event. On account of the continued restrictions on public gatherings and to protect the health of all involved, VIB Vermögen AG chose to hold its Annual General Meeting in this manner. As expected, the actions of the members of the Managing and Supervisory Boards in the 2019 financial year were officially approved by a significant majority.

The joint proposal by the Managing and Supervisory Boards to distribute a dividend of EUR 0.70 per ordinary share with dividend rights for the 2019 financial year was also met with widespread approval (previous year: EUR 0.65 per share).

A broad majority were also in favour of the agenda items authorising the Managing Board to create authorised and conditional capital, each of which in an amount of up to ten per cent of share capital. The corresponding fixed-term authorisations issued in July 2015 expired at the end of June 2020. The Managing Board has not previously made use of such options.

'We are pleased that we have once again increased the dividend year-on-year. As such, we are sending a strong signal to the capital market in these challenging times. With a solid financing structure and a clearly defined investment strategy, we have been pursuing a sustainable growth trajectory for more than 25 years,' remarks Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.