Dividend increases 32% to €1.45 per share/ shareholders will receive three additional new shares for each existing share
WALLDORF, GERMANY — The annual general shareholder meeting of SAP AG on Tuesday approved all agenda items with a large majority. For the 2005 fiscal year, shareholders will receive a dividend of €1.45 per share (2004: €1.10). This is a 32% increase over the previous year’s dividend. With a dividend payout ratio of 30% (previous year: 26%), a total of €447 million will be paid out to shareholders (previous year: €340 million).
The annual general meeting of shareholders further agreed to increase SAP AG’s subscribed capital from retained earnings and APIC. Once the shareholders’ resolution on the increase of the share capital has been registered with the commercial register every shareholder will receive three additional new shares (“bonus shares”) for every one existing share. This will make SAP shares even more attractive to investors, and especially private investors. SAP AG’s capital stock thus increases from approximately €316 million to approximately €1.266 billion.
Further, the SAP shareholders approved the company’s authorization to repurchase up to 30 million treasury shares and also revised the remuneration system for the SAP Supervisory Board.
For US based investors:
Currently, the ratio between the ADR and the underlying ordinary shares is 4:1, meaning that four SAP ADRs are the equivalent of one SAP ordinary share. Once the shareholders’ resolution on the increase of the share capital has been registered with the commercial register, each SAP ADR will represent one SAP Ordinary Share.
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