The execution policy is determined by the Intervest board of directors and presented for approval to the general meeting of shareholders following the end of each financial year.
Intervest is a regulated real estate company with a legal distribution obligation of at least 80% of the net result, adjusted for non-cash flow elements, specific realised capital gains and capital losses on sales of property investments and debt reductions.
As part of its announced growth strategy and from a strategic point of view, Intervest wishes to keep sufficient liquidity arising from its operational activities in the company available.
For this reason, Intervest decided in March 2016 to provide a gross dividend for the 2016, 2017 and 2018 financial years of at least €1,40 per share (subject to approval of the 2018 and 2019 annual general meetings). This amounts to an average pay-out ratio of between 80% and 90% of the EPRA earnings result for the combined 3 years..