Icade is an "SIIC", what does the term mean ?
"SIIC" means "Listed Real Estate Investment Company", inspired by US REITs (Real Estate Investment Trusts), which are subject to a particular tax regime. Icade adopted the SIIC status in 2007 after its IPO. This status enables Icade to be exempt from corporate tax on the results derived from its rental activity, its capital gains from sales and the dividends it receives from subsidiaries that are subject to the SIIC regime.
In exchange, the company has an obligation to distribute to its shareholders 95% of the exempt earnings derived from rental of buildings, 60% of the exempt earnings derived from sales of buildings and 100% of the dividends paid by the subsidiaries that have opted for the SIIC regime.
Where can I find information about Icade's results?
You can find Icade’s results under the heading Finance> Results and publications> Results and Accounts
You can also find all financial documents published by the company under the heading Finance> Results and publications> All our financial documents
What are Icade's next press releases?
You can find the date of publication of Icade’s next results under the heading Finance> Earnings release calendar
Where can I obtain a copy of Icade's reference document?
You can find a copy of Icade’s reference document under the heading Finance> Results and publications> Annual report-Reference document/Interim financial report
Is there a shareholder service?
You can find many answers to your questions on the website www.icade.fr .
Should you have further questions, you can contact Guillaume Tessler, Head of Financial Communication and Investor Relations, by sending an e-mail to firstname.lastname@example.org or by calling 01 41 57 71 61.
I would like to receive Icade's press releases, how do I proceed?
You can contact Guillaume Tessler, Head of Financial Communication and Investor Relations, by sending an e-mail to email@example.com or by calling 01 41 57 71 61.
Dividend and taxation
What was the amount of the dividend paid with respect to the 2017 financial year?
[AMOUNT UNDER DETERMINATION].
Is the dividend in cash or in shares?
The dividend paid for the 2017 financial year will be paid in cash only. No option of payment in shares is offered for this dividend.
How do I proceed to receive the dividend?
The payment of the 2018 dividend based on 2017 financial Results is automatic, with no need for any action on the part of the shareholder, who must own at least one Icade share on the date of registration [Dividend detachment date and payment date under determination ]. Please contact your financial intermediary in the event of a problem.
Can Icade shares be included in an equity savings plan (PEA)?
Since 21 October 2011, taxpayers no longer have the possibility to include SIIC shares in their equity savings plans. However, shares that were included in an equity savings plan before the reform can be kept.
What tax treatment will be applied to dividends paid by Icade to individual shareholders domiciled for tax purposes in France?
1/ Icade shares entitled to dividends held through an equity savings plan (before 21 October 2011).
In this case, the dividends paid by Icade are not liable to any taxation , subject to compliance with the general rules governing the equity savings plan.
It should, however, be noted that since 21 October 2011, SIIC shares are no longer eligible for equity savings plans, with the exception of shares that had already been registered prior to this date, which may remain in the equity savings plan.
2/ Icade shares entitled to dividends not held through an equity savings plan.
The French Finance Act for 2018 has amended the tax regime applicable to capital income by introducing a flat tax rate (“PFU”) applicable to such capital income.
The flat tax rate is applicable on income paid as from January 1st 2018.
Dividend's payments from Icade fall within the scope of this new tax regime and will be liable to tax in two times.
- 1st taxation at the date of the payment : flat tax rate
When Icade pays the dividends they are subject to a deduction at source at a rate of 30% , which breaks down as follows:
- A fixed-rate deduction that does not exempt from income tax , calculated at the rate of 12.8% , and
- Social security contributions at an overall rate of 17.2%.
Nevertheless, the following can apply for an exemption from the fixed-rate deduction that does not exempt from income tax: taxpayers belonging to a household whose reference taxable income in the penultimate year preceding the year the dividend was received was less than €50,000 (for a single, divorced or widowed taxpayer) or €75,000 (for a couple). The application for exemption must be submitted to the paying institution at the latest on 30 November of the year preceding the year of the payment.
- Final taxation the year following the payment
In a second time, dividends are liable either to:
- Income tax at a flat tax rate of 12.8%. The fixed-rate deduction that does not exempt from income withheld at source is offset from income tax due.
- Subject to an express and irrevocable option, the dividend is liable to the progressive scale for income tax, after deduction of :
(i) if applicable, the 40% allowance applicable to the fraction of the dividend paid out of taxable earnings (non-SIIC); note that the fraction of the dividend paid out of exempt earnings (SIIC) does not qualify for this allowance.
As for the dividend paid in 2018, amounting to [amount under determination ] per share, the fraction paid out of taxable earnings that qualifies for the 40% allowance amounts to [amount under determination ] per share, while the fraction paid out of exempt earnings amounts to [amount under determination ] per share;
(ii) a fraction of the social security contributions withheld at source (6.8%).
Lastly, after application of the progressive scale to the tax base determined in this manner, the resulting income tax will be reduced by the fixed-rate deduction that does not exempt from income tax at the rate of 12,8%.
In the case where this deduction exceeds the amount of your income tax, the surplus can be refunded.
The tax-related information provided above is based on the rules applicable as of January 1st 2018.
Are Icade shares in the scope of the new tax on real estate property (IFI)?
Icade's shares are not subject to the IFI, provided that the shares do not to represent directly or indirectly, alone or jointly, more than 5% of Icade share capital and voting rights.
General Shareholders' Meeting:
How can I participate in General Shareholders' Meetings?
All registered shareholders (who have provided a valid postal address) are invited to the General Shareholders' Meeting by post.
You can also find the documents associated with the General Shareholders' Meeting under the heading Finance> Shareholders area> General Shareholders' Meeting
How do I notify you of a change to my address?
Please contact your financial intermediary directly or BNP Securities Services by calling 01 40 14 04 00.
How do I vote at the General Shareholders' Meeting?
If you are unable to attend the General Shareholders' Meeting in person, you can vote by correspondence or be represented by giving a proxy to another person. You will find the procedure to be followed in your invitation to attend the General Shareholders' Meeting in the section "Participation in the General Shareholders' Meeting".