Neinor acelera su plan de dividendos y lanza una opa de exclusión sobre Aedas

Neinor has accelerated its dividend plan, pledging to pay €220 million by the second quarter of 2027, ultimately distributing a total of €555 million over the next two years. The company will also issue a block offer (opa) to acquire Aedas shares, currently held by the Vasco-based promoter at 1.85% of their capital. Neinor owns 42.89 million Aedas shares, representing 98.15% of the company's capital, so the offer will target 809,681 outstanding shares, amounting to a payout of €19.4 million.

In addition, Neinor has repurchased 1.65 million of its own shares under its buyback program at an average price of €15.75, discounted by 14% from the net asset value. The board of directors proposes to amortize these shares through a capital reduction, expected to take effect before December 21, reducing the total number of outstanding Aedas shares by 1.7%, from 97,212,691 to 97,212,691.

The company will complement the December 2026 payment and will add an additional €7.1 million on top of the €72.9 million approved in the April board meeting, bringing the total December payment to €80 million. Furthermore, Neinor will request approval for two additional payments of €70 million each, to be distributed in February 2027 and April or May 2027.

Once approved, Neinor will distribute €220 million to shareholders through quarterly payments between late 2026 and the second quarter of 2027. Beyond these payments, Neinor plans to distribute an additional €110 million in the remainder of 2027 and between €200 and €250 million in 2028, totaling €555 million over the next two years, representing a 35% return on the current stock price, making it the highest dividend yield in the Spanish market.

Neinor emphasizes that this plan is supported by the strong visibility of the business through 2028 and the acceleration of the asset rotation program, with €260 million in transactions signed so far this year.