The General Shareholders Meeting of INVL Baltic Real Estate (hereinafter – “the Company”) held on 18 April 2023 decided to approve the proposed dividend allocation of EUR 0.09 per share for the year 2022 (the total amount of dividends allocation amounts to EUR 0.725 million).
The Company notes that dividends will be paid out and the dividend payment procedure for 2022 will be published within one month of the General Shareholders Meeting that approved the decision to allocate the dividends. Persons, who will be shareholders of the Company at the end of 3 May 2023, the tenth day after the General Shareholders Meeting to approve the resolution to allocate part of the Company’s profit for the payment of dividends, are entitled to receive dividends.
The ex-date is 2 May 2023. From that date, the new owner of the shares of INVL Baltic Real Estate, ISIN code LT0000127151, which were acquired on the stock exchange with a settlement cycle of T+2, is not entitled to dividends for the year 2022.
Furthermore, the General Meeting of Shareholders of the Company approved the main terms and conditions under which the repurchase of the Company’s own shares will be carried out.
Additional information:
The real estate investment company INVL Baltic Real Estate will pay its shareholders dividends of EUR 725,000 for 2022, an allocation of EUR 0.09 per share. The payment of dividends was approved at the annual general meeting of the company’s shareholders on 18 April.
According to Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate, the company’s good performance and the growing value of its properties make it possible to allocate a part of the profit that was earned to dividends.
The company’s dividend policy envisages paying out at least EUR 0.09 per share every year.
The dividends will be paid out within a month. Persons will have a right to receive them who are shareholders of INVL Baltic Real Estate at the end of business on 3 May this year. The dividend yield is about 4%.
Last year INVL Baltic Real Estate had a consolidated net profit of EUR 4.2 million, or 24% more than in 2021. Its consolidated revenue grew 25% in the year to EUR 3.4 million. The value of the company’s investment property holdings grew 23% during 2022 and totalled EUR 36.4 million at the end of December.
The 18 April shareholders meeting, in addition to approving the company’s financial statements and profit distribution for 2022, also approved a procedure for own-share acquisitions and voted on other matters.
If needed, INVL Baltic Real Estate will use a reserve of EUR 2.5 million to buy back its own shares, with a time limit for any buybacks of 18 months from the date of the shareholders’ decision. The maximum purchase price per share is INVL Baltic Real Estate’s last published net asset value per share, while the minimum purchase price is EUR 1.45.
About INVL Baltic Real Estate
INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, and the 55-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 98% to 100% at the end of December 2022.
INVL Baltic Real Estate currently owns properties with a total area of 28,000 sq. m. and a value of EUR 36.4 million.
Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The fund operates as a closed-end investment company. The company is managed by INVL, the leading investment management and life insurance group in the Baltic region. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.
The person authorized to provide additional information:
Real Estate Fund Manager of Management Company
Vytautas Bakšinskas
E-mail vytautas.baksinskas@invl.com
