Approximately half of Vonovia SE's (Vonovia) shareholders have opted for a dividend distribution in the form of new shares within the subscription period. With a total of 47.85 % of shares carrying dividend rights, the scrip dividend was again in high demand and was chosen as an alternative to a cash dividend for the sixth consecutive year.
This means that about €617 million will remain within the company, and 19,252,608 new shares will be issued. Once Vonovia?s shares have been entered in the Commercial Register, the total number of Vonovia shares will increase to 795,849,997.
The dividend for the previous fiscal year amounts to €1.66 per share. In a year-on-year comparison, this corresponds to an increase of effectively €0.08 taking into account the larger number of shares resulting from the capital increase following the takeover of Deutsche Wohnen. Since the initial listing in 2013, the operating result ('Group FFO') of Vonovia, which is the basis for the dividend, has continued to improve. With a stable dividend policy of approximately 70% of Group FFO, there has also been a year-on-year rise in dividends every year. As the payout ratio is planned to remain unchanged, Vonovia is confident that an increasing Group FFO will lead to growing dividends in the future as well.