Neinor Homes held today an Extraordinary General Meeting (EGM) in which it unanimously approved the first distribution to shareholders of its Strategic Plan, in the amount of 126 million euros between dividends and treasury stock cancellation.

Shareholder remuneration is one of the two main pillars of the new Strategic Plan (2023-2027) where the company expects to distribute up to 600 million euros to its shareholders, of which 450 million euros will be distributed in the next two and a half years. With this distribution, in just five months, Neinor has reached another milestone in its strategic plan, reaching 20% of its 5Ytarget.

As announced in first half results, the first dividend to be distributed by the company in the context of its new Strategic Plan will be divided in two payments. The first, amounting to 35 million euros and equivalent to 0.477 gross euros per share, is expected to be paid in mid-October on a date to be confirmed in due course. In addition, in order to optimize distributions to shareholders for tax purposes, the payment will be structured as a capital reduction, so that the net dividend to be received will be 0.466 euros per share.

With respect to the second payment, in the amount of 40 million euros (0.53 euros per share), the shareholders have approved to delegate to the board of directors the necessary powers for its approval without the need to call a new Extraordinary General Meeting.

In addition, the company approved the cancellation of a total of 5,019,891 treasury shares representing 6.28% of Neinor's share capital. This operation is expected to be executed in mid-October and the date will be announced in the coming weeks. After these shares are cancelled, a total of 74,968,751 shares will remain outstanding.