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 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 2019 annual general meeting). This amounts to an average pay-out ratio of between 80% and 90% of the EPRA earnings result for the combined 3 years..