01.4
Capital Market and Stock
DIVIDEND
As a result of the company’s performance in 2008, we will propose to the Annual General Meeting on May 7, 2009 the twelfth consecutive dividend increase: the dividend is set to increase to €0.58 from €0.54 per ordinary share and to €0.60 from €0.56 per preference share. The dividend increase of 7 % is in keeping with our profit-oriented dividend policy of recent years. Based on the proposed dividend and the closing prices of our shares at the end of 2008, this would be equivalent to a dividend yield of 1.7 % for our ordinary shares, about 1.5 % more than in the previous year.
If the Annual General Meeting accepts the proposal, total dividends of some €173 million will be distributed for 2008. Related to an exchange rate of $1.3900 to the euro at the end of the year under review, this represents total dividends of approximately $240 million. Based on our net income of $818 million, this is a payment rate of about 30 %.
