At the end of the fiscal year period, open from 15 to 29 May, 82.7% of shares opted for payment of the dividend of €4.60 in shares.
Payment of the dividend and settlement and delivery of the new shares will take place on 5 June. The 3 885 719 new shares thus issued will bear rights as at 1 January 2019, and will be subject to a request for admission for trading on the regulated Euronext Paris market as well as on the MTA (Mercato Telematico Azionario) market of the Milan stock exchange. The issue price of new shares is €81.29, corresponding to 90% of the average closing price of the 20 sessions of the stock market prior to the Combined General Meeting, less the amount of the dividend .
This operation represents a capital increase of €315.9 Million and once again illustrates shareholders’ confidence in Covivio’s strategy. It allows the company to significantly advance towards its goal of LTV below 40%, while pursuing its investments, particularly in the development pipeline, which offers high returns.