Intervest proposes an optional dividend to its shareholders and discloses the related conditions
For financial year 2017, the general meeting has decided to distribute a gross dividend of € 1,40 per share. After deduction of 30% withholding tax, the net dividend for financial year 2017 amounts to € 0,98 per share.
The board of directors has there after decided as at 3 May 2018 to offer the share-holders of Intervest Offices & Warehouses (hereafter ‘Intervest’) an optional dividend for financial year 2017. With an optional dividend the shareholders are given the opportunity to contribute their dividend receivable that arises from the profit distribution, in the company’s capital in return for the issue of new shares, in addition to the option to receive the dividend in cash or to choose for a combination of both previous options.
The funds not paid out in cash will support the further growth of the company, generate opportunities for investments in logistics real estate properties and for the reorientation of the office portfolio and contribute to the strengthening of the balance sheet structure of the company.
Each shareholder has thus the choice to receive the dividend in cash or to invest in shares, as follows:
Payment of dividend in cash
Coupon no. 19 gives entitlement to a gross dividend of € 1,40 or € 0,98 net per share (after deduction of 30% withholding tax).
Investment of dividend in return for new Intervest shares
A subscription can be made for one new share through the contribution of 21 coupons no. 19
(each for a net dividend amount of € 0,98).
The issue price for the shareholder amounts hence to 21 x € 0,98 = € 20,58 for one new share.
This price includes a discount of 7% on the average of the opening prices of the 10 last trading days before the decision of the board of directors and of 7% com-pared to the opening price of the Intervest as at Wednesday 2 May 2018, each time after deduction of the gross dividend for financial year 2017.
A combination of both previous options.
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