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Published: 2023-03-24 08:30:00 CET
INVL Baltic Real Estate
Notification on material event

Regarding the proposal of INVL Baltic Real Estate to allocate dividends for the year 2022

Investment Committee of INVL Baltic Real Estate (hereinafter – “the Company“) acting on behalf of INVL Asset Management, the Management Company of INVL Baltic Real Estate (hereinafter- “the Management Company”), informs that during the upcoming Company‘s General Shareholders Meeting, to be held on 18 April 2023, it is proposed to the shareholders of the Company to allocate a dividend of EUR 0.09 per share for the year 2022 (the total amount for dividends allocation would amount to EUR 0.725 million).

Furthermore, on 18 April 2023, the General Meeting of Shareholders of the Company is proposed to approve 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 plans to pay out dividends of EUR 0.725 million for 2022, an allocation of EUR 0.09 per share. The payment of dividends and other matters will be voted on at the annual general meeting of the company’s shareholders on 18 April.

“The company’s good performance and the growing value of its properties make it possible to share gains with investors. Like every year, we are following the company’s dividend policy of paying out at least EUR 0.09 per share,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.

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 totaled EUR 36.4 million at the end of December.

Dividends will be paid out within a month after the decision is adopted. Persons will have a right to receive the dividends who are shareholders of INVL Baltic Real Estate at the end of business on 3 May this year. Based on the share price on 23 March 2023, the dividend yield amounts to 4.1%.

The shareholders meeting on 18 April will vote on approving the company’s financial statements and profit distribution for 2022 as well as on fixing a procedure for own-share acquisitions and other matters.

If needed, INVL Baltic Real Estate would use a reserve of EUR 2.5 million to buy back its own shares, setting a time limit for any buybacks of 18 months from the date of the shareholders’ decision. The maximum purchase price per share would be INVL Baltic Real Estate's last published net asset value per share, while the minimum purchase price would be 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