Shareholder information

Within the framework of the Belgian RREC legislation, the Company is required to distribute, as return on capital, an amount at least corresponding to the positive difference between the following amounts:

• 80% of an amount (‘corrected profit’) determined in the form published in Chapter III of Annex C of the Royal Decree of 13 July 2014 ;
• and the net decrease in the debt of the public RREC during the financial year.

Each year, the dividend is paid following the Annual General Meeting, which is held on the second Tuesday of May. Keep an eye on our calendar to keep up to date with all the dates related to the dividend.

For the 2024 financial year, Aedifica’s Board of Directors anticipates a gross dividend of €3.90 per share (+3% compared to the 2023 dividend). The dividend will be paid out in May 2025, following the approval of the annual accounts by the Annual General Meeting of 13 May 2025.

As a RREC investing more than 80% of its portfolio in residential European healthcare real estate, the withholding tax for Aedifica investors amounts to only 15%. After deduction of the 15% withholding tax, the total net dividend will amount to €3.315.

For the 2023 financial year, Aedifica distributed a gross dividend of €3.80 per share (+3% compared to the 2022 dividend). The dividend was split between coupon no. 33 (€1.9156, ex-coupon date: 22 June 2023) and coupon no. 34 (€1.8844, ex-coupon date: 16 May 2024).

Any Aedifica share purchased since 22 June 2023 (inclusive) had coupon no. 34 (and following) attached and was therefore entitled to the pro rata temporis dividend of €1.8844 (gross) per share.

As a RREC investing more than 80% of its portfolio in residential European healthcare real estate, the withholding tax for Aedifica investors amounts to only 15%. After deduction of the 15% withholding tax, the total net dividend will amount to €3.23 (€1.6283 for coupon no. 33 and €1.6017 for coupon no.34).

Aedifica has achieved a strong dividend track record since its incorporation in 2005. Year after year, we have increased our dividend or at least kept it stable. Since incorporation, we have already distributed a total of €41.40 (gross) per share in dividends.

By clicking on the link below you will find an overview of all dividends paid by coupon.
Dividend history

* Prorata of the €4.60 dividend (18 months) over 12 months.
** Outlook.

The withholding tax on dividends distributed by Aedifica amounts to 15%.

Pursuant to Articles 89, 90 and 91 of the Act of 18 December 2016 and amended by Article 20 of the Act of 27 December 2021, RRECs benefit from a reduced withholding tax rate of 15% (instead of 30%), provided that at least 80% of the Company’s real estate portfolio is (directly or indirectly) invested in real estate properties which are situated in a member state of the European Economic Area and which are exclusively or primarily destined for care and housing units suited for healthcare.

Aedifica’s shareholders benefit from this reduced rate as more than 80% of the Company’s portfolio is exclusively or primarily invested in care and housing units suited for healthcare. Following Brexit, a transition regime has been provided for UK assets acquired prior to 1 January 2021 so that they can be included in the calculation of the 80% threshold until the end of the 2025 financial year.

Therefore, if legislation does not change in the meantime and no major changes happen in the Group’s portfolio, Aedifica estimates that its shareholders will continue to benefit from the reduced withholding tax rate of 15% on dividends paid or attributed until 31 December 2025.

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