INVL Baltic Real Estate will pay dividends to shareholders

The real estate investment company INVL Baltic Real Estate will pay its shareholders dividends of EUR 0.09 per share for 2023. That decision was made at a general meeting of the company’s shareholders on 30 April.

“The size of this year’s dividend payment to shareholders equals the amount specified in the company’s dividend policy. The policy envisages a dividend allocation of at least EUR 0.09 per share,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.

In 2023, INVL Baltic Real Estate had a consolidated net profit of EUR 0.7 million and consolidated revenue of EUR 3.6 million. The value of the company’s investment property holdings was EUR 42.1 million at the end of 2023 and was 15% larger than a year earlier.

The meeting of INVL Baltic Real Estate shareholders also approved the acquisition of own shares and the preparation of terms for a reorganization of the company to merge into it the entity acquired last year which owns the Pramogų Bankas facilities in Vilnius.

For own share acquisitions, part of a reserve formed for that purpose would be used. The maximum purchase price per share would be INVL Baltic Real Estate’s last published net asset value per share; the minimum price would be EUR 1.45. There is a time limit for any buybacks of 18 months from the date of the shareholders’ decision. Later the company’s share capital would be reduced to annul the acquired own shares, but only if 100,000 or more the company shares were purchased during the buyback period.

Following the reorganization of INVL Baltic Real Estate, the company would directly own the Pramogų Bankas real estate which was acquired in July 2023.

About INVL Baltic Real Estate

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, the Pramogų bankas and the 55-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 85% to 100% at the end of 2023.

INVL Baltic Real Estate currently owns properties with a total area of 32,100 sq. m., the value of the real estate at the end of 2023 was EUR 42.1 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-ended investment company which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.

About INVL Asset Management

INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.

We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages EUR 1 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania and Latvia, management of pension funds in Latvia, and investments in global third-party funds. Further information www.invl.com/en/.

Important information

This is a marketing communication of an information nature, which is not and shall not be construed as an offer to purchase investment shares of a collective investment undertaking, an investment recommendation, or investment research, as it is not designed to take into account the investment objectives, financial situation, or needs any individual investor.

When investing, the investors assume the risk associated with the investment. The value of investments can both rise and fall, and an investor may recover less than he/she/it has invested. Past investment results do not guarantee the same results or profitability in the future. Past performance is not a reliable indicator of future performance. Before making a decision to invest, potential investors should, on their own or with the help of investment advisers, assess the suitability of the investment for them along with the taxes and fees related to the investment, consider all the risks related to the investment, and carefully read the articles of association, prospectus and other documents of the respective collective investment undertaking.