- Distribution of CHF 2.50 per share for business year 2018 confirmed
- Approval of quarterly distribution of CHF 0.50 per share beginning in Q2 2019 with a true-up at the 2020 Annual General Meeting
- Manuel Leuthold re-elected as Chairman of the Board of Directors
- All Board members elected who stood for re-election and all nominated members of the compensation committee approved
- Consultative approval of 2018 compensation report
Varia US Properties AG held today in Zurich its Annual General Meeting. A total of 5,387,190 shares, or 59.85% of shares with voting rights, were represented.
Shareholders accepted all motions proposed by the Board of Directors including the full financial statements and a distribution of CHF 2.50 per share out of the capital contribution reserve for the business year 2018. In addition, a quarterly distribution of CHF 0.50 per share to shareholders out of the capital contribution reserve and calculated on the currently outstanding share capital beginning in Q2 2019 was also approved. There will be a true-up reflecting the development of the 2019 financial business year at the 2020 Annual General Meeting to be paid after that Annual General Meeting as well. The Board targets a regular distribution of 90% of the funds from operations (FFO), defined as EBITDA less interest expenses.
Manuel Leuthold was re-elected as Chairman of the Board of Directors, while Taner Alicehic, Stefan Buser, Patrick Richard, Dany Roizman, Jaume Sabater and Beat Schwab were re-elected as members of the Board. All were re-elected for a one-year term of office extending until completion of the next Annual General Meeting. Additionally, shareholders approved the re-election of Stefan Buser and Beat Schwab as members of the compensation committee.