Press release
145KB
march 13, 2020 - Porsche
41 percent dividend increase proposed
Payout of 952 million euro / 3.11 euro per preference share / group result after tax up 26.3 percent to 4.4 billion euro |
Stuttgart, 13 March 2020. The Executive Board and Supervisory Board of #Porsche Automobil Holding SE (Porsche SE), Stuttgart, propose to increase the dividend for the fiscal year 2019 by 41 percent to 3.11 euro (prior year: 2.21 euro) per preference share and 3.104 euro (prior year: 2.204 euro) per ordinary share. This corresponds to a payout of 952 million euro (prior year: 676 million euro), of which 476 million euro is attributable to the holders of preference shares. On 19 May 2020 the annual general meeting in Stuttgart will decide on the proposed dividend. Porsche SE's group result after tax in the fiscal year 2019 rose to 4.4 billion euro, an increase of 26.3 percent compared to the prior year (3.5 billion euro). This development was significantly influenced by the result from the investment accounted for at equity in Volkswagen AG of 4.4 billion euro, after 3.6 billion euro in the prior year. Net liquidity of #Porsche SE Group came to 553 million euro (864 million euro) as of the 31 December 2019 reporting date. This decrease is primarily due to the acquisition of ordinary shares in Volkswagen in the first quarter of 2019. The increase in #Porsche SE's proposed dividend is disproportionately higher than the increase in result. This growth relates to the dividend proposal of Volkswagen AG, which increased the payout rate to 24.5 percent, after 20.4 percent in the prior year. Porsche SE will publish its annual report for 2019 on 24 March 2020 on its website (https://www.Porsche-se.com). As a precautious measure, the originally planned annual press and analyst conference is cancelled due to the latest developments. |
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