Hogan Lovells advises Commerzbank AG on scrip dividend of Vonovia SE
Led by Frankfurt-based partner Prof. Dr. Michael Schlitt, global law firm Hogan Lovells advised Commerzbank AG for the seventh time on the payment of a scrip dividend and related rights issue by Vonovia SE.
The shareholders' meeting of Vonovia SE resolved a dividend payment of EUR 0.85 per share on 17 May 2023. The shareholders were given the choice of receiving the dividend in cash or in the form of new shares of Vonovia SE. During the subscription period, shareholders holding a total of 44.87% of the shares entitled to dividends chose the scrip dividend instead of a cash dividend. To create the 18,795,001 new shares, Vonovia SE increased its share capital by making use of authorized capital.
Hogan Lovells advised Commerzbank AG in its role as financial advisor and process bank on all issues concerning the structuring and execution of the transaction.
Hogan Lovells team for Commerzbank AG
Prof. Dr. Michael Schlitt (Partner, Lead Partner), Mark Devlin (Counsel), Dr. Susanne Ries (Of Counsel), Eva-Christina Sommer (Senior Business Lawyer) (all Corporate and Capital Markets, Frankfurt);
Ben Garcia (Partner, US law, New York).
In house (Commerzbank AG, Frankfurt): Dr. Bernd Singhof