Akelius Residential Property ABFinanzstrategie
- minimize impact of a financial crisis
- maintain buffer to financial covenants
- enable stable growth with low risk
policy | FY 2023 | |
|---|---|---|
| two investment grade ratings of min BBB | ✓ | BBB from S&P BBB from Fitch |
| max 60 percent loan-to-value if property prices decrease 25 percent | ✓ | 60 |
| interest coverage ratio above 1.5 if interest rates increase five percentage points | ✓ | 3.7 |
| loan-to-value below 35 percent | ✓ | 42 |
| secured loan-to-value below 25 percent | ✓ | 1 |
| interest coverage ratio excluding realized value growth exceeds 2.0 | ✓ | 22 |
| liquidity reserve exceeds EUR 500 million | ✓ | 976 |
| cash sources divided by cash uses exceed 100 percent | ✓ | 170 |
| interest rate hedge maturities within a year less than 40 percent of debt | ✓ | 3 |
dividend policy
commitment to sustainable financial resilience
- high financial resilience based on a prudent financing structure
- a diversified portfolio of residential properties with the ability to generate increasing rental income
net dividend policy for financial stability
The aim of the net dividend policy is to be able to distribute dividends while maintaining the equity needed for financial stability.
The company will not pay any dividends will be paid in a financial crisis unless at least an equal amount of equity is raised at the same time.
Dividends paid to holder of ordinary shares of class A are mainly reinvested in the company to support organic growth.
reinvestment supports growth
Reinvestment of dividends through share issues has been beneficial for the common shareholders.
It has supported the company in its organic growth.
historical dividends and share issues
MEUR
| dividend | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|
| preference shares | - | - | - | 32 | 37 | 39 | 41 | 40 | |
| class D shares | 11 | 22 | 22 | 22 | - | - | - | - | - |
| class A shares | 167 | 6,064 | 950 | 96 | - | 835 | 840 | 509 | 11 |
total | 178 | 6,086 | 972 | 118 | 32 | 872 | 880 | 550 | 51 |
share issue | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
| preference shares | - | - | - | - | - | - | - | - | 214 |
| class D shares | - | - | - | - | 378 | - | - | - | - |
| class A shares | 168 | 4,085 | - | - | - | 835 | 1,049 | 436 | - |
total | 168 | 4,085 | - | - | 378 | 835 | 1,049 | 436 | 214 |
cash flow | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
| preference shares | - | - | - | - | -32 | -37 | -39 | -41 | 174 |
| class D shares | -11 | -22 | -22 | -22 | 378 | - | - | - | - |
| class A shares | 1 | -1,979 | -950 | -96 | - | - | 208 | -73 | -11 |
total | -10 | -2,001 | -972 | -118 | 346 | -37 | 169 | -114 | 163 |