Hogan Lovells advises DIC Asset AG on its sixth scrip dividend
Led by Frankfurt-based partner Prof Dr Michael Schlitt, Hogan Lovells has advised DIC Asset AG on its sixth scrip dividend transaction.
Shareholders were given the choice to receive the dividend for the financial year 2022 in the amount of 0.75 EUR either in cash only or partly in cash and partly in the form of new shares of DIC Asset AG. To create the 413,144 new shares, DIC Asset AG increased its share capital by making use of authorized capital.
This transaction structure is of increasing interest to German issuers. Hogan Lovells advised DIC Asset AG on the structuring and settlement of the sixth consecutive scrip dividend.
Hogan Lovells team for DIC Asset AG:
Prof Dr Michael Schlitt (Partner, Lead Partner), Mark Devlin (Counsel), Dr Susanne Ries (Of Counsel), Christian Schröder (Senior Associate), Eva-Christina Sommer (Senior Business Lawyer) (all Corporate and Capital Markets, Frankfurt),
Dr Heiko Gemmel (Partner), Vanessa Rinus (Associate, both Tax, Dusseldorf).