The real estate investment company INVL Baltic Real Estate will pay EUR 1 million of dividends to shareholders for 2021, or EUR 0.12 per share. This and other decisions were adopted at the general meeting of shareholders of the company held today.
“The company’s successful operations demonstrate our ability to generate significant growth of asset value and allow us to pay investors a dividend higher than the EUR 0.09 per share envisaged in the company’s dividend policy,” said Vytautas Bakšinskas, a member of the INVL Baltic Real Estate Investment Committee.
The dividends will be paid out within a month of the decision. Those persons will be eligible to receive them who are shareholders of INVL Baltic Real Estate at the end of business on 27 April 2022. Based on the 11 April 2022 share price, the dividend yield is above 5%.
INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass. At year-end the company’s properties had occupancies of 98% to 100%.
INVL Baltic Real Estate’s current property holdings have a total area of 28,000 sq. m. and a value of EUR 29.6 million.
Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The fund operates as a closed-end investment company. Management of the company was assumed by INVL Asset Management, one of Lithuania’s leading asset management firms. The company will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.