Dividends policy

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.