More than 30 percent of the shareholders of VIB Vermögen AG, which specializes in the development, acquisition and portfolio management of commercial real estate, exercised their first-time right to opt for a stock dividend. This means that approximately EUR 4.5 million of the total distribution of EUR 20.7 million remains in the company for further growth.
With yesterday's entry in the commercial register, VIB Vermögen AG's share capital will increase accordingly by 130,230 shares to 27,710,009 no-par value shares. The company offered its dividend as an optional dividend for the first time for the past fiscal year 2020. Shareholders were able to choose between a cash dividend of EUR 0.75 per share, the subscription of new shares, or a combination of both options. The subscription period ran up to and including July 16, 2021.
'We are very pleased that numerous shareholders have opted for the stock dividend right from the start, thus leaving capital in the company that is available for further investments,' said Martin Pfandzelter, CEO of VIB Vermögen AG.
At this year's Ordinary General Meeting of VIB Vermögen AG, an overwhelming majority of 99.96 percent approved the joint proposal of the Managing and Supervisory Boards to distribute a dividend of EUR 0.75 per no-par value share with dividend entitlement, either in cash or in shares. This was a good seven percent increase compared to previous year and the twelfth time in succession that the dividend has been increased.
The cash dividend will be paid out by the custodian banks on July 29, 2021. The new shares are scheduled to be booked into the shareholders' securities accounts and the first trading day for the new shares is scheduled for August 2, 2021. All information on the stock dividend has been published at https://www.vib-ag.de/en/investor-relations/annual-general-meeting.
VIB Vermögen AG published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 05:32:03 UTC.