Corporate News

Significant majority of Encavis' shareholders (61.5) prefer new Encavis shares to cash dividend

Hamburg, June 15, 2020 - The significant majority of shareholders in Encavis AG (ISIN: DE0006095003, Prime Standard), the SDAX-listed, Hamburg-based solar and wind park operator, decided to receive new shares instead of a cash dividend, with 61.5 per cent opting for the new shares. A total of 1,398,087 new shares will therefore be issued and a cash dividend of EUR 20,467,924.71 distributed to shareholders. After the registration in the Commercial Register, 138,437,234 Encavis AG shares will be listed on the stock exchange. The scrip dividend offered for the past fiscal year 2019 already represented the seventh time in a row that the company has offered this option. Shareholders were given the choice of whether they would like to receive a cash dividend of EUR 0.26 per share, new shares at a ratio of 60.25 to 1 (shareholders receive one new share for each 60.25 shares they hold) or a combination of the two options.

"We are very pleased that the significant majority of our shareholders opted for the share dividend - a strong sign of confidence in the potential of our profitable growth strategy, which at the same time keeps liquidity within the company for further investments. Of course, we will continue to let our shareholders participate in Encavis AG's ongoing success story. As already announced in March 2017, we intend to pay a dividend of EUR 0.30 per share for fiscal 2021. With the scrip dividend, we continue to grant our shareholders the maximum flexibility in the years ahead," says Dr Christoph Husmann, CFO of Encavis AG, welcoming the again increased rate of acceptance compared to previous year (54.4 %) for the share dividend.

The payment of the cash dividend amounting to EUR 0.26 per dividend-entitled share is expected to be made by the custodian bank on June 16, 2020. The new shares are scheduled to be booked to the shareholders' securities accounts and will be traded initially on June 24.

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed on the SDAX of Deutsche Börse AG. As one of the leading independent power generators (IPPs), Encavis acquires and operates solar parks and (onshore) wind farms in ten European countries. The plants for sustainable energy generation generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). Within the Encavis Group, Encavis Asset Management AG specializes in the area of institutional investors.

Encavis AG's environmental, social and governance performance was evaluated by ISS-oekom, one of the world's leading ESG research and rating agencies and received the ISS-oekom Prime label.

Further information on the Company can be found at www.encavis.com

Contact:
Encavis AG