Akelius Residential Property AB

finanspolicy

Objectives

  • minimize impact of a financial crisis
  • maintain buffer to financial covenants
  • enable stable growth with low risk

policy

 

Q3 2024

maintain an investment grade rating from Standard and Poor’s or another rating instituteBBB- from S&P
max 60 percent loan-to-value if property prices decrease 25 percent50
interest coverage ratio above 1.5 if interest rates increase five percentage points4.5
loan-to-value below 35 percent35
secured loan-to-value below 25 percent-13
interest coverage ratio excluding realized value growth exceeds 2.05.4
liquidity reserve exceeds EUR 500 million 880
cash sources divided by cash uses exceed 100 percent256
interest rate hedge maturities within a year less than 40 percent of debt14

dividend policy

commitment to sustainable financial resilience

Akelius strives for continuous dividends on its ordinary shares.
This continuity is enabled by

  • 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

dividend202320222021202020192018201720162015
preference shares ---3237394140
class D shares22222222-----
class A shares1,4816,06495096-83584050911

total

1,503

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 shares1684,085---8351,049436-

total

168

4,085

-

-

378

835

1,049

436

214