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 EPRA earnings, adjusted to non-cash flow elements. The gross dividend will always amount to a minimum of 80% of this sum, meaning that the RREC will always fulfil its legal obligations.
Intervest expects further growth to a real estate portfolio of € 1 billion by the end of 2019, with an increase in EPRA earnings per share of at least 3%. Intervest plans a gross dividend of a minimum € 1,50 per share for the 2019 financial year. This means a gross dividend yield of 6,1% based on the closing price of the share as at 30 June 2019, which was € 24,70 and amounted to a pay-out ratio of 80%-85% of the expected EPRA earnings.