SAP Recommends Dividend Increase

If the shareholders approve this recommendation the total amount distributed in dividends would be approximately Euro 560 million. The dividend payment is in line with SAP’s targeted pay-out ratio of approximately 30 percent of the group’s net income. The Annual General Meeting is scheduled for May 10, 2007 in Mannheim, Germany. The payment of the dividend is scheduled for or after May 11, 2007.
Note to holders of SAP ADRs (American Depositary Receipts): One SAP ADR (American Depositary Receipt) represents one SAP AG’s ordinary share. However, the final dividend 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 11, 2007. The depositary bank will then convert the dividend payment from Euro into US-Dollar as promptly as practicable.

Source: SAP AG