Madrid, 9 September 2024.- Neinor Homes, the leading publicly traded company in the residential development market in Spain, will distribute 37.5 million euros in dividends to its shareholders on October 15 this year – representing a yield of approximately 4%. This is the second payment of a total dividend of 75 million euros, with the first payment made on July 31. The payment represents a gross distribution of 0.5 euros, which equates to 0.495 euros net per share. The last day to trade shares with rights to this dividend will be October 10.

The payment will be executed through a capital reduction with a return of contributions to shareholders, following the same structure used in recent years. As a result, it will be subject to a 1% tax on the value of the returned contributions, which Neinor Homes will withhold, self-assess, and remit to the Bizkaia Regional Tax Authority.

Neinor Homes continues to advance its shareholder remuneration plan and offers the highest dividend yield in Europe

Since the presentation of its 2023-2027 strategic plan, the developer has already distributed a total of 200 million euros to its shareholders. This dividend payment represents the achievement of one-third of its five-year goal to distribute 600 million euros.

The company has clear visibility to meet its goal of distributing 325 million euros between 2024 and 2025, thanks to a solid pre-sales pipeline. In total, 250 million euros (3.33 euros per share) remain to be distributed for this period, representing a 25% yield.

Borja García-Egotxeaga, Neinor Homes’ CEO comments that: “The benign macroeconomic and sector outlooks allow us to be optimistic about the close of 2024. This, along with the positive stock market performance and the reduction in the discount on NAV, places us in an excellent position to meet the objectives of our shareholder remuneration plan and pursue our equity efficient growth strategy."

Jordi Argemi, Neinor’s Deputy CEO and CFO says: “The crystallization of the built-to-rent portfolio, driven by the recent sale of an asset to Avalon Properties, has allowed us to advance 40% of the 200 million euros payment planned for 2024. Since the announcement of the strategic plan in March 2023, we have already distributed 200 million euros to shareholders, while also being able to bring forward part of the planned distributions, in line with our commitment to accelerate cash flows for shareholders."