WALLDORF, Germany — SAP AG (NYSE: SAP) today announced that all of the agenda items at its annual general shareholder meeting were approved by a significant majority.
For the fiscal year 2008, shareholders will receive a dividend of €0.50 per common share, as in the previous year. For 2008, SAP will pay out a total of approximately €594 million (previous year: €594 million), which equates to a dividend payout ratio of approximately 32 percent of SAP’s net income. Payment of the dividend is scheduled with effect from May 20, 2009.
SAP AG shareholders also approved the proposal authorizing the SAP Executive Board to repurchase shares for treasury representing a total attributable portion of the capital stock of not more than €120 million (120 million shares) by October 31, 2010.
The annual general meeting of shareholders further agreed to amend the Articles of Incorporation to comply with the German Shareholder Rights Directive Implementation Bill accepted by the German Federal Government on November 2008. The aim is to once again offer shareholders the option that complies with the current law, of appointing and instructing proxies provided by the company using the Internet facility provided by the company for this purpose for the 2010 annual general meeting of shareholders.
For a full agenda of the meeting and polling results on individual agenda items, please visit the Corporate Governance section of www.sap.com.