Reinet’s NAV per share decreased to €36.31 from €38.04 while the NAV declined 4.5% to €6.6 billion. The company sold its entire stake in Pension Insurance Corporation Group for proceeds of around €3.3 billion and received €303 million in dividends from the investment during the year. A proposed dividend of €0.435 per share was declared, up 17.6% from the prior year. No update was provided on what management plans to do with the large cash balance.
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