Metrovacesa will pay a dividend of 70 million euros in May, 28% more than the previous year.

• The Board of Directors will propose at the next General Meeting a figure of 0.46 euros per share, to be paid in May.

• This proposal consolidates the real estate developer as one of the Spanish listed companies with the highest dividend yield, above 8%.

Madrid, 27 March 2025. The Board of Directors of Metrovacesa, Spain’s leading real estate developer with more than 100 years of history and 115 projects under development nationwide, continues to consolidate its leadership in the real estate sector with the proposal of a dividend that places its yield above 8%. The company has agreed to call the Ordinary General Shareholders’ Meeting to be held on 28 April 2025 in Madrid. Among the items on the agenda, the annual accounts for 2024 and the proposed distribution of a dividend will be submitted for approval.

The company will propose the distribution of a dividend of 0.46 euros per share, equivalent to approximately 69.8 million euros, to be paid around 22 May, subject to the approval of the AGM. This represents a 28% increase over the dividend paid in May 2024.

Together with the interim dividend paid in December (EUR 50 million), total shareholder remuneration this year will amount to almost EUR 120 million, which represents a yield of more than 8% at the current share price. As in previous years, the payment will be charged to unrestricted reserves (share premium) and, therefore, will not be subject to tax withholding.

This dividend increase is a consequence of the good results obtained by Metrovacesa in the 2024 financial year, with record revenues of 657.8 million euros and an operating cash flow of 146.5 million euros, higher than the initial forecasts.

‘This dividend proposal reinforces our commitment to distribute most of the cash flow generated each year to shareholders, and consolidates our position as one of the companies with the highest dividend yield on the Spanish stock exchange. At the same time, we continue to have a very solid financial structure that allows us to face our development plans for the coming years with guarantees,’ said Jorge Pérez de Leza, CEO of Metrovacesa.

Context and outlook 2025

Since its IPO in 2018, Metrovacesa will have distributed a total of €696 million in dividends (€4.59 per share), equivalent to 48% of its current market capitalisation.

By 2025, Metrovacesa has a very positive outlook, with operating cash flow expected to be above 150 million euros, with increases in both residential development revenues and land sales. Visibility is very high thanks to its pre-sales portfolio, with 80% of housing deliveries expected by 2025, and 62% of those by 2026, already sold.

Following the delivery of the first Isla Natura developments at the end of 2024, a new neighbourhood developed by Metrovacesa in Seville with 23 developments currently underway, the company expects to replicate the success in other large land under management that will be available soon, such as Los Cerros, in Madrid; Vinival, in Valencia, or Seda-Papelera in Barcelona, with a firm commitment to sustainable and quality projects to continue generating value in the communities where it operates.

The full notice of the General Meeting and the proposed resolutions are available on the Company’s website (www.metrovacesa.com) and on the CNMV website.