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Dividend

Dividend policy
On the capital market, IMMOFINANZ is again positioned as a sustainable dividend security. The capital measures approved during the 2015/16 financial year will basically allow IMMOFINANZ to resume dividend payments, independent of exceptional political or economic situations – as is currently the case in Russia.

The payment of a dividend is also planned for the current 2017 financial year.
Abbreviated 2016 financial year (1 May 2016 to 31 December 2016)
On 1st June 2017, shareholders approved a dividend of six Euro cents per share for the abbreviated 2016 financial year at the 24th annual general meeting of IMMOFINANZ AG. The distribution will total approx. EUR 63.2 million. The ex-dividend date was 2 June 2017, and payment was made on 7 June 2017.

The dividend is classified as a repayment of capital under Austrian tax law 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 (subject to certain assumptions, e.g. when the total capital repayments exceed the tax base of the purchased shares).

Download: Dividend announcement (200,04 kB, PDF)
Download: Information on the dividend for the abbreviated 2016 financial year (400,80 kB, PDF)
Financial year 2015/16
The 23rd ordinary shareholders’ meeting of IMMOFINANZ AG, registered seat in Vienna, FN 114425 y, on 29 September 2016 resolved upon a dividend distribution for the 2015/16 financial year of EUR 0.06 per share bearing dividend entitlement.

Pursuant to the resolution of the shareholders’ meeting of 29 September 2016 the dividend distribution shall be qualified under Austrian tax law as repayment of capital according to section 4 para 12 Austrian Income Tax Act.

The dividend is due and payable on 04 October 2016 (Dividend-Payment-Date). The shares of IMMOFINANZ AG are traded at the Vienna Stock Exchange and Warsaw Stock Exchange from 30 September 2016 ex dividend for the business year 2015/16 (Dividend Ex-Date). The relevant date for the securities account balance to receive a dividend (Record Date) is 03 October 2016.

Download: Dividend announcement (200,89 kB, PDF)
Download: Information on the dividend for the 2015/16 financial year (458,25 kB, PDF)

Financial year 2014/15
Based on the earnings situation in 2014/15 and the uncertainty connected with future forecasts for Russia, the Executive Board of IMMOFINANZ did not recommend the payment of a dividend for the 2014/15 financial year to the annual general meeting. IMMOFINANZ’s goal is to restore the structural capability to pay dividends as quickly as possible and thereby safeguard a sustainable dividend policy. In the AGM on 1 December the shareholders were asked to approve an increase in share capital from company funds and a subsequent reduction in share capital. These measures are intended to ensure the structural capability of IMMOFINANZ to pay dividends and thereby safeguard a sustainable dividend policy. Simply stated, part of the appropriated capital reserves reported in the annual financial statements of IMMOFINANZ AG will be “converted” into unappropriated or voluntary reserves. That will create the possibility to use these voluntary reserves for future distributions to shareholders.

From a technical viewpoint this took place in two steps, both of which have been approved by the AGM: First, EUR 1.8 bn of the appropriated reserves were converted into share capital through a capital increase from company funds. An ordinary capital decrease then transfer the funds from the capital decrease to unappropriated (“voluntary”) reserves. In addition, the capital decrease even out the proportional amount of share capital to EUR 1 per share so every share represents a proportional amount of EUR 1 in share capital.

The capital increase took place without the issue of new shares. The subsequent capital decrease has also not lead to any change in the number of shares. Consequently, there was no dilution for shareholders.

Financial year 2013/14
As a consequence of the spin-off of BUWOG AG, IMMOFINANZ AG does not pay a dividend for the 2013/14 financial year. This decision is based on the fact that IMMOFINANZ invested major parts of its internally generated funds in German residential properties during the past year to pave the way for the separation of BUWOG.

Dividend for 2012/13 financial year
The annual general meeting on 2 October 2013 in the Austria Center Vienna approved the payment of a EUR 0.15 dividend per share for the 2012/13 financial year. The dividend payment is treated as a repayment of capital in accordance with § 4 (12) of the Austrian Income Tax Act and is therefore tax-free for natural persons resident in Austria who hold IMMOFINANZ shares as part of their private assets. IMMOFINANZ AG paid this dividend on 11 October 2013.  
Download: Dividend announcement 2013 (130,04 kB, PDF)
Download: Information on the dividend 2012/13 (182,54 kB, PDF)
 
IMMOFINANZ generated sound results in 2011/12 financial year and a dividend of EUR 0.15 per share was distributed to shareholders on 15 October 2012 (Dividend-Payment-Date). Pursuant to the resolution of the 19th ordinary shareholders’ meeting of 5 October 2012 this distribution is effected under Austrian tax law as a repayment of capital according to section 4 para 12 Austrian Income Tax Act and it will be tax-free for natural persons resident in Austria who hold IMMOFINANZ shares as part of their private assets.
Download: Dividend announcement 2012 (82,77 kB, PDF)
Download: Shareholder information on repayment of capital 2012 (182,36 kB, PDF)
 
In 2010/11 IMMOFINANZ paid a dividend of EUR 0.10 per share, which was transferred to shareholders on 5 October 2011. This distribution was also classified as a repayment of capital under Austrian tax law based on a resolution of the 18th ordinary shareholders’ meeting on 28 September 2011.
Download: Dividend announcement 2011 (19,73 kB, PDF)
Download: Information on the dividend 2011 (26,90 kB, PDF)
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