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 plans a gross dividend of € 1,53 per share for the 2019 financial year, subject to approval by the annual general meeting to be held in 2020. This means a gross dividend yield of 6,0% based on the closing price of the share as at 31 December 2019, which was € 25,60 and amounted to a pay-out ratio of 80% of the EPRA earnings.