Investor Relations Activities
In the first six months of 2018, Vonovia participated in a total of 14 investors’ conferences and organized 18 roadshow days in the most important European, Asian and North American financial centers. In addition, our company representatives held numerous one-on-one meetings and conference calls with investors and analysts to keep them informed of current developments and special issues. Active participation in various shareholder association forums is also a key component of our IR work.
In order to provide information, the Investor Relations team and their colleagues from the operational areas once again gave numerous property tours to interested members of the financial community.
Capital Markets Day
The fifth Capital Markets Day, which focused on “Unlocking Potential,” took place in Berlin on June 5, 2018. In three workshops on energy, neighborhood development and project development, Vonovia demonstrated to the 55 external participants the business potential that these and other topics have to offer. The event wrapped up with a property tour that made two stops. First, smaller groups of participants were given a tour of a new construction project, where they were able to experience how professional development and sustainable construction is transforming an unused property into a high-value neighborhood with condominiums and rental apartments. The participants were then shown a neighborhood development project so they could see how socially responsible neighborhood development works. By viewing two model apartments, the group was able to get an idea of how senior-friendly modernization can be successfully realized.
We will continue to communicate openly with the capital market as this year progresses. Various roadshows and conferences have already been planned. Information can be found in the Financial Calendar on our Investor Relations website.
2018 Annual General Meeting
The Annual General Meeting of Vonovia SE was held in Bochum on May 9, 2018. 69.95% of the share capital was represented. All of the agenda items were carried by a large majority, including the proposal to distribute a dividend of € 1.32 per share to the company’s shareholders. The shareholders can choose whether they want to receive this in cash or as new shares.
This corresponds to a dividend yield of 3.2% in relation to the share’s closing price of € 41.39 on December 31, 2017. The dividend for the 2017 fiscal year was paid out from a contribution account for tax purposes. It was therefore paid out to shareholders without capital gains tax or the solidarity surcharge being deducted.
At the end of the second quarter of 2018, 31 national and international analysts were covering Vonovia. Two of these brokers have currently suspended their coverage of Vonovia due to the ongoing takeover of BUWOG and Victoria Park. The average target share price was € 44.86, with 64% of analysts issuing a “buy” recommendation, 32% issuing a “hold” recommendation and 4% issuing a “sell” recommendation.