29.09.2016
IMMOFINANZ: Annual General Meeting approves dividend and re-elections to the Supervisory Board
Shareholders approved a dividend of six Euro cents per share for the 2015/16 financial year today, Thursday, at the 23rd annual general meeting of IMMOFINANZ AG. The distribution will total approx. EUR 58.0 million. Based on the closing price on 30 April 2016, the dividend yield equals roughly 2.9%. The ex-dividend date is 30 September 2016, and payment will be made on 4 October 2016.
The dividend is classified as a repayment of capital under Austrian law (§ 4 (12) of the Austrian Income Tax Act) and is therefore not subject to withholding tax for natural persons who are resident in Austria and who hold IMMOFINANZ shares as part of their private assets.*
Michael Knap, Rudolf Fries, Christian Böhm and Nick J. M. van Ommen were also re-elected to the Supervisory Board at the 23rd annual general meeting. Their terms of office extend to the end of the annual general meeting that will vote on the release from liability for the 2020 financial year.
The IMMOFINANZ Supervisory Board remains unchanged and comprises six shareholder representatives (Michael Knap, Chairman, Rudolf Fries, Vice-Chairman, Christian Böhm, Nick J. M. van Ommen, Horst Populorum and Wolfgang Schischek) as well as three staff representatives.
The shareholders also approved all other points on the agenda of today’s annual general meeting, including the conclusion of a settlement with the former Executive Board member Norbert Gertner. This out-of-court solution will result in cash inflows of approx. EUR 7.9 million to the IMMOFINANZ Group.
*) subject to certain assumptions, e.g. when the capital repayment exceeds the purchase cost of the shares for tax purposes
The dividend is classified as a repayment of capital under Austrian law (§ 4 (12) of the Austrian Income Tax Act) and is therefore not subject to withholding tax for natural persons who are resident in Austria and who hold IMMOFINANZ shares as part of their private assets.*
Michael Knap, Rudolf Fries, Christian Böhm and Nick J. M. van Ommen were also re-elected to the Supervisory Board at the 23rd annual general meeting. Their terms of office extend to the end of the annual general meeting that will vote on the release from liability for the 2020 financial year.
The IMMOFINANZ Supervisory Board remains unchanged and comprises six shareholder representatives (Michael Knap, Chairman, Rudolf Fries, Vice-Chairman, Christian Böhm, Nick J. M. van Ommen, Horst Populorum and Wolfgang Schischek) as well as three staff representatives.
The shareholders also approved all other points on the agenda of today’s annual general meeting, including the conclusion of a settlement with the former Executive Board member Norbert Gertner. This out-of-court solution will result in cash inflows of approx. EUR 7.9 million to the IMMOFINANZ Group.
*) subject to certain assumptions, e.g. when the capital repayment exceeds the purchase cost of the shares for tax purposes
IMMOFINANZ – a publicly listed European commercial real estate group with focus on two asset classes: Office and retail in eight core markets.