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Deutsche Wohnen Shareholders Vote In Favour Of 5% Reduced Dividend At AGM

German real estate firm Deutsche Wohnen AG (DWHHF.PK) announced Friday that shareholders vote at its Annual General Meeting for reduced dividend and make a clear commitment to solidarity in the coronavirus crisis.

The shareholders supported the proposal of the Management and Supervisory Boards to pay out a dividend of 0.90 euros per share. This corresponds to a reduction of the originally planned payout ratio by 5 percentage points to 60%.

Deutsche Wohnen will be using the difference to finance a 30 million euro Coronavirus relief fund, which was announced back in March. It is intended to use this fund to provide unbureaucratic help, particularly to commercial and residential tenants as well as business partners who have got into financial difficulties as a result of the coronavirus crisis.

The Annual General Meeting was conducted for the first time in a virtual format to protect the health of shareholders. Resolutions on all the agenda items were passed with a clear majority.

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