DGAP-News: HAMBORNER REIT AG / Key word(s): AGM/EGM/Dividend
HAMBORNER REIT AG invites shareholders to Annual General Meeting 2020 and offers scrip dividend for the first time
- Virtual Annual General Meeting convened for 8 October 2020
- Annual General Meeting invitation and agenda published in the German Federal Gazette and on the company's website
- Dividend proposal of €0.47 per share
- Choice of cash or scrip dividend for the first time
2020 ANNUAL GENERAL MEETING
Duisburg, 26 August 2020 - HAMBORNER REIT AG is inviting its shareholders to attend the virtual Annual General Meeting for the 2020 financial year on Thursday, 8 October 2020 at 10:00 a.m.
The Annual General Meeting originally scheduled for 6 May 2020 was postponed on account of developments in connection with the spread of the COVID-19 virus. Contrary to original plans and in view of current infection levels and the official restrictions on public gatherings still in place, the Annual General Meeting will be held virtually.
Shareholders interested in participating in the virtual Annual General Meeting are requested to register by 1 October 2020. An audio-visual stream of the meeting will be accessible to all properly registered shareholders in the investor portal on the company's website. Access data for the investor portal will be provided after timely registration. Further details can be found in the invitation to the Annual General Meeting.
The invitation and the agenda were today published in the German Federal Gazette and on the company's website at https://www.hamborner.de/en/investor-relations/general-shareholders-meeting.html.
CHOICE OF CASH OR SCRIP DIVIDEND
At their joint meeting on 29 July 2020, the Management Board and the Supervisory Board of HAMBORNER REIT AG unanimously decided to stand by their original dividend proposal and to propose a dividend of €0.47 per share to the Annual General Meeting. Based on today's Xetra closing price of €8.57, this would represent a dividend yield of 5.5%.
Subject to approval by the Annual General Meeting, HAMBORNER will this year offer its shareholders a scrip dividend for the first time. Shareholders interested in a straightforward reinvestment of their dividend entitlement can receive stock in HAMBORNER REIT AG instead of a conventional cash dividend. If desired, €0.33 per share of the €0.47 per share dividend can be converted in full or in part into company shares. The difference of €0.14 per share represents the maximum payable withholding tax including the solidarity surcharge and, if applicable, church tax.
The company website at https://www.hamborner.de/en/investor-relations/scrip-dividend.html contains further information on the scrip dividend as well as a dividend calculator that can be used to calculate a possible receipt of shares on an individual basis.
ABOUT HAMBORNER REIT AG
HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.6 billion. The portfolio focuses on profitable office properties as well as local supply properties as large-scale retail assets, retail parks, DIY stores and attractive high street properties in major German cities and mid-sized centres.
HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainable dividend policy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.
|Company:||HAMBORNER REIT AG|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1123773|
|End of News||DGAP News Service|