Deutsche Konsum REIT-AG (DKR) revealed its plans for dividend distribution for the fiscal year ending September 30, 2022. The company’s management board and supervisory board have proposed a dividend payment of Euro 0.12 per share, totalling EUR 4.22 million. The approval of shareholders will be sought at the forthcoming annual general meeting scheduled for July 13, 2023.
The announcement, made in compliance with the German Stock Corporation Act (§ 58(4) sentence 2 AktG), details that the dividend entitlement will become due on the third business day following the approval of the dividend resolution at the annual general meeting. If the proposal receives shareholder approval, the dividend payment will be disbursed on Tuesday, July 18, 2023. Shareholders recorded on the register as of Monday, July 17, 2023, will be eligible to receive the dividend.
To accommodate shareholders on the South African register, DKR has set Wednesday, July 12, 2023, as the last day for trading shares with entitlement to the dividend. Subsequently, the ex-dividend date, signaling the commencement of stock trading without the dividend value, has been set for Thursday, July 13, 2023.
The dividend will be paid out in Euros to shareholders on the German register, while shareholders on the South African register will receive the dividend in Rand. The exchange rate applicable for the dividend payable in South African cents to South African shareholders will be announced on or before Tuesday, July 11, 2023.
During the period from Thursday, July 13, 2023, to Monday, July 17, 2023, inclusive, shares cannot be transferred between the South African register and the German register. Additionally, shareholders in South Africa will be unable to dematerialize or rematerialize shares between these dates.