Press release

DIC Asset AG: Virtual Annual General Meeting 2023 approves dividend in the amount of EUR 0.75 per share and new company name “Branicks Group AG”

• All items of business approved by large majorities
• Payout ratio equal to 54% of funds from operations (FFO)
• Choice of scrip or cash dividend once again offered to all shareholders
• Name change to Branicks Group AG given green light

Frankfurt am Main, 30 March 2022. DIC Asset AG (“DIC”); ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, hosted its annual general meeting today, getting all items of business approved by large majorities.

In her key note, CEO Sonja Wärntges looked back on another record year in the company’s 25-year history: She pointed out that, at the bottom line, DIC had significantly improved its resilience and stability, and that the company clearly benefited from this fact in the current phase of the real estate market cycle.

Sonja Wärntges went on to say: “It was an excellent year for our company – not least because the FFO, at EUR 114.2 million, once again made the triple millions while achieving yet another year-on-year increase, but also because it was a year of excellent annual performance figures and long-term agenda-setting: The acquisition of VIB Vermögen AG last year has now made us a powerhouse in the office and logistics segments in Germany while also giving us a substantially higher share of revenues marked by long-term predictability. In the year concluded, this share came to 78% of our revenue total.”

The dividend payment approved for the 2023 financial year amounts to EUR 0.75 and thus matches the prior-year level. The payout ratio of 54% of the funds-from-operations (FFO) earnings ratio is at a comparable level to the previous year (57%). Once again, shareholders have the option to receive their dividends either in cash or in the form of new shares (scrip dividend). Relative to the XETRA year-end closing price of 2022, this translates into a dividend yield of 9.8%.

In addition, the annual general meeting elected the auditing firm BDO AG Wirtschaftsprüfungsgesellschaft, Hamburg as auditor for the 2023 financial year, and discussed the remuneration report for Management Board and Supervisory Board. The annual general meeting also approved, with a large majority, the proposal by both Management Board and Supervisory Board to rename the company Branicks Group AG and to amend the articles of association accordingly.

CEO Sonja Wärntges had this to say on the subject: “Over the past 25 years, we have grown to become one of the very big players in the commercial real estate market, playing the long game and making good money. Our company’s future name, Branicks Group AG, pays homage to our own staff, the ‘brain’ of our enterprise. At the same time, it implies a promise to our stakeholders to use that brain to bet on the right bricks, meaning the right kind of assets.”

About DIC Asset AG:

DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 360 assets with a combined market value of EUR 14.7 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
[email protected]