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Warehouses De Pauw nominates new director

Warehouses De Pauw's manager nominated Jürgen Ingels to be added to the board as an independent, nonexecutive director.

The nomination will be finalized at the general meeting of the manager, De Pauw NV, on April 25, the Belgian industrial real estate investment trust said in a release.

Ingels is the founder and managing partner of the private equity fund SmartFin Capital, and a director at Willemen Groep NV and Ghelamco.

In its 2017 full-year report, the company disclosed its European Public Real Estate Association-defined earnings guidance for the year 2018 of €6.00 per share, 7% higher year over year. Dividend is expected to increase to 4.80 per share in 2018, compared to 4.50 per share paid out in 2017.

Warehouses De Pauw is targeting 7.00 per share of EPRA earnings in 2020.