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voestalpine Annual General Shareholders’ Meeting approves dividend of EUR 1.05

2016-07-06 | 

Today, at the 24th Annual General Shareholders’ Meeting of voestalpine AG, a dividend of EUR 1.05 for each dividend-bearing share was approved for the business year 2015/16. The shareholders acted on the relevant recommendation by the Management Board and the Supervisory Board. After a dividend of exactly one euro in the previous year, this represents another five-percent rise and follows continual increases in the previous periods. Despite the economically challenging times, the dividend once again confirms the attractiveness of the Group’s dividend yield to shareholders. The dividend shall be paid out starting on July 18, 2016 (ex-dividend date is July 14, 2016).

Based on the average voestalpine share price of EUR 32.76 in business year 2015/16, this represents a dividend yield of 3.2 percent (3.0 percent in the previous year). In general, the voestalpine Group can look back on a uniquely successful story, which commenced with the start of privatization in 1995 – a process completed in 2005 with the 100 percent withdrawal of the state from voestalpine’s ownership structure – and which is also expressed in dividend performance: since its IPO in 1995, voestalpine AG has paid out a dividend to its shareholders every year, amounting to a total of EUR 2.2 billion in dividend payouts. The average annual dividend yield since the IPO has been 3.8 percent.

Since the compensation paid to the members of the Supervisory Board, as laid out in the Articles of Incorporation, has remained unchanged for the last ten years, and with no adjustments having been made for inflation, the Annual General Shareholders’ Meeting amended the relevant provision in the Articles of Incorporation and approved a raise in the level of compensation paid to the Supervisory Board. Although the members of the Supervisory Board will continue to receive one-tenth of one percent of the Group’s net income, the minimum compensation to which the Chairman of the Supervisory Board is entitled was raised from EUR 20,000 to EUR 27,000, for the Deputy Chairman from EUR 15,000 to EUR 20,000, and for the remaining members of the Supervisory Board from EUR 10,000 to EUR 13,000. The maximum compensation remains unchanged at four times these minimum stipulated amounts. The primary reason for this increase is to adjust for inflation since 2006.

The voestalpine Group

In its business segments, voestalpine is a globally leading technology and capital goods group with a unique combination of material and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its top-quality products and system solutions using steel and other metals, it is one of the leading partners to the automotive and consumer goods industries in Europe as well as to the aerospace, oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2016/17, the Group generated revenue of EUR 11.3 billion, with an operating result (EBITDA) of EUR 1.54 billion; it has around 50,000 employees worldwide.