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TAG Immobilien AG: Suspension of the dividend for FY 2022 planned to further strengthen the capital and financing base

TAG Immobilien AG / Key word(s): Dividend
TAG Immobilien AG: Suspension of the dividend for FY 2022 planned to further strengthen the capital and financing base

21-Nov-2022 / 19:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

 Suspension of the dividend for FY 2022 planned to further strengthen the capital and financing base

TAG’s Management Board and Supervisory Board plan not to propose a dividend payment for financial year 2022 at the Annual General Meeting, which resolves the appropriation of profits for FY 2022.

Management and Supervisory Board feel that the current market environment calls for consistent measures to address adequately the prevailing uncertainty in the capital markets. The development of inflation as well as strongly increased interest rates are having an impact in the form of volatile capital markets and investment markets that are difficult to assess. With this in mind, the Management and Supervisory Boards are endeavoring to take all measures that are possible and appropriate using the company’s own resources and independently of unpredictable market developments. After careful consideration of the advantages and disadvantages from TAG Immobilien AG’s shareholders point of view, suspending the dividend is a consequential measure. In combination with the refinancing measures already implemented for 2023, this places the company’s capital and financing basis on a sustainably stable foundation for the years ahead.

Further information in connection with the refinancing measures already implemented for 2023 can be found in the Company's regular reporting on the third quarter of 2022.

Contact:

TAG Immobilien AG
Head of Investor&Public Relations Dominique Mann
Tel. +49 (0) 40 380 32 - 300
Fax +49 (0) 40 380 32 388
ir@tag-ag.com

21-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

TAG Immobilien AG

Steckelhörn 5

20457 Hamburg

Germany

Phone:

040 380 32 0

Fax:

040 380 32 388

E-mail:

ir@tag-ag.com

Internet:

http://www.tag-ag.com

ISIN:

DE0008303504

WKN:

830350

Indices:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange

EQS News ID:

1492983


 

End of Announcement

EQS News Service

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