SAP Recommends Dividend Increase

If the shareholders approve this recommendation, the total amount distributed in dividends would be approximately Euro 341 million. The Annual General Meeting is scheduled for May 12, 2005 in Mannheim, Germany. The payment of the dividend is scheduled for or after May 13, 2005. “We delivered a year of double-digit growth in software revenues, our net income increased by 22 percent,” said Werner Brandt, CFO of SAP AG. “SAP is among the few software companies that pay dividends to its shareholders, and we have done so continuously since 1988 when SAP was listed on the Frankfurt Stock Exchange. It has always been our policy to let our shareholders participate in SAP’s success and this year’s dividend recommendation is, once again, testimony to this policy. Over the midterm, our goal is to pay out
approximately 30 percent of SAP AG’s net income to our shareholders.”
Note to holders of SAP ADRs (American Depositary Receipts): One SAP ADR (American Depositary Receipt) represents one-fourth of SAP AG’s ordinary share. Accordingly, the final dividend per ADR is calculated as one-fourth of the Euro 1.10 dividend and is dependent on the Euro/US-Dollar exchange rate. SAP AG pays cash dividends in Euro, so the exchange rate fluctuations will also affect the US-Dollar amounts received by the holders of ADRs on the conversion into US-Dollars of cash dividends paid in Euro on the ordinary shares represented by the ADRs. The final dividend payment by SAP AG to the depositary bank is scheduled for May 13, 2005. The depositary bank will then convert the dividend payment from Euro into US-Dollar as promptly as practicable.

Source: SAP AG