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DIC Asset proposes extraordinary dividend

DIC Asset AG is planning to distribute a one-time extraordinary dividend to shareholders of at least 20 euro cents per share, with the completion of TLG IMMOBILIEN AG's takeover of WCM Beteiligungs- und Grundbesitz-AG.

DIC, which holds a 25.95% stake in WCM, agreed to tender its shares in the company in May. DIC reported a one-time extraordinary income of approximately €19 million from the exchange of WCM shares for TLG shares.

The extraordinary dividend shall be proposed at DIC's next ordinary annual general meeting, along with the company's targeted dividend for 2017.