05.07.2016
DIC Asset AG DE000A1X3XX4
DGAP-News: DIC Asset AG AGM approves dividend increase
DGAP-News: DIC Asset AG / Key word(s): AGM/EGM
DIC Asset AG AGM approves dividend increase
05.07.2016 / 16:40
The issuer is solely responsible for the content of this announcement.
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Press Release
Frankfurt, 5 July 2016
DIC Asset AG AGM approves dividend increase
- All agenda items approved by clear majority votes
- Dividend increase for 2015, to EUR 0.37 per share (2014: EUR 0.35)
- Ulrich Höller confirmed as member of the Supervisory Board
- EUR 87 million in disposals as at end of H1
- Expanding the funds business with two new funds
- Management Board confirms guidance for 2016 (FFO: EUR 43 - 45 million)
Today's shareholder meeting of DIC Asset AG (German Securities ID A1X3XX /
ISIN DE000A1X3XX4), held in Frankfurt/Main, Germany, has approved a
dividend of EUR 0.37 per share for the 2015 financial year (2014: EUR
0.35). The dividend rise is appropriate, following a successful conclusion
to 2015 and a good start into the current financial year. Based on the
share price as at end of June 2016, the dividend yield exceeds 4 percent.
With appr. 67 percent of share capital present, the shareholders approved
all proposals on the agenda with clear majorities (please see the table
below for a detailed analysis of voting results). Ulrich Höller, CEO of GEG
German Real Estate Group, was confirmed as a member of the Supervisory
Board. The shareholder meeting ended after around 5 hours at 3:07 pm CEST.
Aydin Karaduman, CEO of DIC Asset AG, said: "We successfully concluded our
programme for 2015. Above all, we reduced our debt ratio to below 60
percent. Following the consolidation, we are now focusing on generating
growth. We will pursue an active asset management approach to increase the
quality of our real estate portfolio, and we will expand assets under
management in our funds and third party businesses. Our vertically
integrated management platform allows us to focus on stable rental cash
flows from our Commercial Portfolio and rising management fees in our funds
and third party businesses. At the same time, the more volatile development
projects and existing joint-venture structures will be divested."
DIC Asset AG has sold EUR 87 million in property to date this year, thereof
EUR 33 million from the Commercial Portfolio and EUR 54 million from Co-
Investments. The disposals achieved an average mark-up of more than 10 per
cent over the most recent market value determined. Lease contracts signed
during the first six months of 2016 represented total annualised rental
income of around EUR 15 million. Of this figure, EUR 5 million were
attributable to new leases and EUR 10 million to lease renewals.
DIC Asset AG is also working on two additional real estate funds: a retail
fund with an initial capital of more than EUR 200 million and a target
volume of approximately EUR 400 million, as well as an office property fund
with an initial volume between EUR 100 million and EUR 150 million, and a
target volume of EUR 250 million. Currently EUR 200 million in investments
are in negotiations. Following successful closing and notarisation of these
transactions, DIC Asset AG expects assets under management in the funds
business to rise significantly throughout Summer 2016, to about EUR 1.4
billion.
For the full-year 2016, the Management Board confirmed its guidance as
published at the beginning of the year, according to which DIC Asset AG
should generate EUR 100 million in rental income, and FFO between EUR 43
million and EUR 45 million. To further optimise its portfolio, DIC Asset AG
plans real estate disposals in a range between EUR 80 million and EUR 100
million. Acquisitions for its funds business are expected to amount to
between EUR 400 million and EUR 450 million.
Summary of voting results:
Agenda item Approved in percent
1. Presentation of financial no vote
statements for 2015
2. Appropriation of profit available 99.98
for distribution
3. Ratification of the Board of 99.79
Directors
4.1 Ratification of the Chairman of 96.53
the Supervisory Board
4.2 Ratification of the members of 97.96
the Supervisory Board
5. Election of auditors for 2016 99.62
6. Election of Ulrich Höller to the 74.62
Supervisory Board
7. Amendment of the Memorandum and 96.63
Articles of Association on remuneration
of the Supervisory Board
8. Authorisation to acquire treasury 98.88
shares
About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in Frankfurt/
Main, is a real estate company with an investment focus on commercial real
estate in Germany, pursuing a return-oriented investment policy. The
Company's investment strategy is geared to the continued development of a
high-quality, highly profitable and regionally diversified portfolio. Real
estate assets under management comprise 216 properties with an aggregate
market value of EUR 3.2 billion. The real estate portfolio is structured in
two segments: the Commercial Portfolio (EUR 1.7 billion) comprises existing
properties with long-term rental contracts generating attractive rental
yields. The Co-Investments segment (EUR 1.5 billion) comprises fund
investments (accounting for a share of EUR 1.2 billion), joint-venture
investments, and interests in development projects. In-house real estate
management teams provide a direct service to tenants, working out of six
different locations in each of the portfolio focus regions. This market
presence and expertise creates the basis for preserving and enhancing
earnings and real estate values. DIC Asset AG has been included in the
SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The
Company's shares are also included in the EPRA index, which tracks the
performance of the most important European real estate companies.
Media contacts
RUECKERCONSULT GmbH
Jan Geisler
Wallstrasse 16
10179 Berlin
Germany
Phone: +49 30 2844987-65
Fax: +49 30 2844987-99
[email protected]
Investor Relations
DIC Asset AG
Peer Schlinkmann
Neue Mainzer Strasse 20 - MainTor
60311 Frankfurt/Main
Germany
Phone:+49 69 9454858-1221
Fax: +49 69 9454858-9399
[email protected]
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05.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: DIC Asset AG
Neue Mainzer Straße 20 * MainTor
60311 Frankfurt am Main
Germany
Phone: +49 69 9454858-1221
Fax: +49 69 9454858-9399
E-mail: [email protected]
Internet: www.dic-asset.de
ISIN: DE000A1X3XX4, DE000A1TNJ22, DE000A12T648
WKN: A1X3XX, A1TNJ2, A12T64
Indices: S-DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News Service
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