The real estate investment company INVL Baltic Real Estate will pay dividends for 2016 of EUR 789 000, or EUR 0.012 per share. The company’s shareholders approved the decision at their meeting on 11 April.
The dividends will be paid out within a month of the decision. Investors who are shareholders of INVL Baltic Real Estate at the end of business on 26 April will be eligible to receive them.
The general meeting of shareholders also approved a new composition of INVL Baltic Real Estate’s audit committee. Tomas Bubinas, Chief Operating Officer at Biotechpharma UAB, and Danguolė Pranckėnienė, an auditor and partner at Moore Stephens Vilnius UAB, were elected for a four-year term as independent members.
At the end of 2016, INVL Baltic Real Estate had a consolidated equity value of EUR 31.1 million.
INVL Baltic Real Estate owns 58 000 square metres of real estate at strategically attractive locations in Vilnius and Riga valued at EUR 52 million: office and commercial premises at the Vilnius Gates complex in the Lithuanian capital, the IBC Business Centre near Konstitucijos Avenue, office buildings in the Old Town on Vilniaus Street and in Šiaurės Miestelis, office and warehouse premises in Kirtimai, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass.
Since 22 December 2016, INVL Baltic Real Estate has operated as a closed-end investment company (UTIB). Management of the company was assumed by INVL Asset Management, one of Lithuania’s leading asset management firms. The company will operate with UTIB status until 2046, with extension possible for another 20 years.
