CIMdata PLM Industry Summary Online Archive
16 March 2006
Financial News
SAP Recommends Dividend Increase
The Executive Board and the Supervisory Board of SAP AG recommend that shareholders approve a dividend of €1.45 per ordinary share at this year's Annual General Meeting of shareholders. This would represent an increase of 32% over the 2004 dividend of €1.10 per ordinary share. If the shareholders approve this recommendation the total amount distributed in dividends would be approximately €448 million. The Annual General Meeting is scheduled for May 9, 2006 in Mannheim, Germany. The payment of the dividend is scheduled for or after May 10, 2006.
"It has always been our policy to let shareholders participate in our success", said Werner Brandt, CFO and Member of the Executive Board of SAP AG. "The increase in dividend is in line with our targeted pay-out ratio of 30% of SAP group's net income."
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 €1.45 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 10, 2006. The depositary bank will then convert the dividend payment from Euro into US-Dollar as promptly as practicable.
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