CMS advises Berenberg on structuring and implementing a scrip dividend offered by DIC Asset AG

Frankfurt/Main – For the sixth time in a row since 2018, SDAX-listed property company DIC Asset AG has given its shareholders the choice of receiving the dividend in cash or in the form of new shares in the company. A total of 413,144 new no-par value shares with full dividend entitlement were issued for the 2023 financial year. Through issuing the new shares and reducing the cash distribution, DIC was able to boost its equity by around EUR 2.7 million.

A CMS team headed by lead partner Dr Andreas Zanner advised the bank handling the transaction, Joh. Berenberg, Gossler & Co. KG, on all legal aspects of structuring and implementing the scrip dividend. The Hamburg-based bank regularly relies on the expertise of CMS lawyers. CMS is regarded as a market leader in providing legal advice on scrip dividends and how to structure them.

Listed on the SDAX since 2006, DIC Asset AG refers to itself as Germany’s leading listed specialist for office and logistics real estate. DIC Asset AG manages 357 properties with a market value of around EUR 14 billion across all major German markets.

Joh. Berenberg, Gossler & Co. KG is headquartered in Hamburg and describes itself as a leading European private bank in the areas of Wealth Management, Asset Management, Investment Banking and Corporate Banking. The banking house is run by personally liable partners and also has a presence in Frankfurt, London and New York.

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