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Aedas Redeems 1.16 Million Shares to Increase Dividend

The listed company has reduced its capital by 2.4%, looking to raise shareholder remuneration to 9%, the maximum among developers.

david martinez aedas

The residential developer Aedas Homes has recently finalised the redemption of 1.16 million own shares, reducing 2.4% of its share capital.

The operation, approved in the Shareholders’ Meeting and registered in the Mercantile Registry on August 11, supposes the company’s reduction of the company’s social capital to 46.806.537 shares, from 47.966.587 previously.

This amortisation translates into a return of 9% for the shareholder, the highest in the development sector, according to the company headed by David Martínez.

In May, the listed company announced that it would pay a dividend of 1.40 euros per share, which means the distribution of more than €67 million, the highest total disbursement in the development sector in Spain. This was its first payout to its shareholders since its IPO in October 2017.

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