DGAP-News: IMMOFINANZ AGM approves dividend
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Dividend/Change of Personnel
IMMOFINANZ AGM approves dividend
02.10.2013 / 15:43
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COO Daniel Riedl appointed CEO of BUWOG
The 20th Annual General Meeting (AGM) of IMMOFINANZ AG today approved a
dividend of EUR 0.15 per share for the 2012/13 financial year. With this
resolution, the shareholders followed a recommendation by the Executive and
Supervisory Boards. IMMOFINANZ will now distribute a total of EUR 169.3
million (EUR 152.4 million after the deduction of treasury shares). The
ex-dividend date is 4 October and payment will be made on 11 October 2013.
This dividend is classified 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.
The AGM was also informed that IMMOFINANZ COO Daniel Riedl has been
appointed CEO of the residential property subsidiary BUWOG. Preparations
are currently underway for BUWOG's listing on the Frankfurt Stock Exchange
during the 2014 calendar year. In a first step IMMOFINANZ will reduce its
investment from 100% to less than 50%. The sale of the majority holding
will take place via spin off or initial public offering.
'Since its privatisation in 2004, BUWOG has completed an impressive
transformation from its original position as a housing company for civil
servants into a professional full-service residential property company. Its
business model is not only based on rentals, but also includes strong
development and sales components that contribute to sustainable cash flow.
The gradual shift of the portfolio from Austria to Germany will allow us to
position BUWOG in the German residential property segment, a peer group
that enjoys high demand from investors, and also support an increase in the
gross rental yield across the entire portfolio. This step on the capital
market represents a further important milestone in the company's history',
indicated Daniel Riedl.
Up to BUWOG's planned listing, Riedl will remain on the IMMOFINANZ
Executive Board where he is responsible for real estate development,
management and transactions in the residential segment as well as
personnel, IT and marketing. He has also served as chairman of BUWOG's
Supervisory Board since the beginning of 2012. This Supervisory
Board-responsibility will be filled by Vitus Eckert in the future. Eckert,
an attorney and partner of Eckert Fries Prokopp Rechtsanwälte GmbH in Baden
bei Wien, is also a member of the IMMOFINANZ Supervisory Board.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and is also listed on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,700 investment properties
with a carrying amount of approx. EUR 10.4 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. IMMOFINANZ Group concentrates its activities in the
retail, office, logistics and residential segments of eightregional core
markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania,
Poland and Russia. Further information under:
http://www.immofinanz.com / http://blog.immofinanz.com /
http://properties.immofinanz.com
On BUWOG Group
The BUWOG Group (BUWOG and ESG-Villach) is the leading private housing
company in Austria. Its portfolio includes approx. 33,500 apartments,
roughly 27,200 in Austria and roughly 6,300 in Germany. With an annual new
construction volume of nearly 700 apartments in the greater Vienna area,
the BUWOG Group is one of the most active housing developers and real
estate development companies in this country. The Group manages 2,300
residential, office, retail and hotel properties with 3.8 million sqm of
usable space together with its facility management subsidiary BUWOG FM,
which also make it the leading private facility manager in Austria. The
most important growth market for the BUWOG Group is the residential
property market in Germany, above all Berlin and the northern provinces.
BUWOG also entered the new residential construction market in that country
with the takeover of a well-known Berlin development corporation in 2012
and is currently working on a project pipeline of nearly 1,500 apartments.
BUWOG is a wholly owned subsidiary of the listed IMMOFINANZ AG.
For additional information contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications(at)immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor(at)immofinanz.com
End of Corporate News
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02.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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233093 02.10.2013
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Datum: 02.10.2013 - 15:43 Uhr
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News-ID 302238
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