ElringKlinger AG
ElringKlinger AG: Annual General Meeting approves dividend of EUR 0.50 per share – Klaus Eberhardt becomes new Chairman of the Supervisory Board
DGAP-News: ElringKlinger AG / Key word(s): AGM/EGM Annual General Meeting approves dividend of EUR 0.50 per share – Klaus Eberhardt becomes new Chairman of the Supervisory Board – Dividend resolution will lead to payout of EUR 31.7 million, equivalent to dividend ratio of 40.3% – Andreas Wilhelm Kraut elected as new member of the Supervisory Board; broad consensus also on all other items on the agenda – Klaus Eberhardt succeeds Walter H. Lechler as Chairman of the Supervisory Board – Walter H. Lechler elected as Honorary Chairman of the Supervisory Board Dettingen/Erms (Germany), May 16, 2017 +++ The 112th Annual General Meeting of ElringKlinger AG was attended by around 900 shareholders, shareholder representatives, and guests at the Liederhalle congress center in Stuttgart. In his speech CEO Dr. Stefan Wolf presented a review of the financial year just ended, while also outlining the process of transformation currently driving the automobile industry: “Recording sales revenue of EUR 1,557.4 million and organic growth of 4.7%, ElringKlinger made considerable ground in 2016 and again outpaced the global markets in terms of forward momentum. This is attributable to the Group’s innovative and broadly diversified product portfolio that provides an excellent vantage point when it comes to tackling the industry’s dynamic transition towards alternative drive systems.” ElringKlinger generated earnings before interest and taxes of EUR 135.6 (135.2) million in fiscal 2016, thus emulating its performance in the previous year. While growth in revenue had a favorable impact on earnings, these positive contributions to profit were offset by charges relating to the Swiss subsidiary affected by capacity constraints. As a result, net income attributable to shareholders fell to EUR 78.6 (91.6) million. The Annual General Meeting (AGM) approved by a majority of 99.96% the proposal put forward by the Management Board and Supervisory Board for a dividend payment of EUR 0.50 (0.55) per share for fiscal 2016. The total dividend payment will amount to EUR 31.7 (34.8) million. On this basis, the dividend ratio will rise to 40.3 (38.0)%, which lies at the upper range of the long-term dividend policy adopted by the company. It stipulates a dividend payment equivalent to between 30 to 40% of Group net income for the purpose of ensuring that shareholders receive an appropriate and sustainable return on their investment. Shareholders also passed, by large majorities, all the other resolutions put forward. The actions of the Management Board and Supervisory Board were ratified with 99.88% and 96.50% of the votes respectively for the 2016 financial year. Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft was appointed as the auditor for the financial year 2017. Additionally, a resolution on the cancellation of existing and the creation of new Authorized Capital, including the authorization to exclude subscription rights and an amendment to the Articles of Association, was approved by 89.22%. The overall attendance figure was 78.10% of share capital. For further information, please contact: About ElringKlinger AG
16.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | ElringKlinger AG |
Max-Eyth-Straße 2 | |
72581 Dettingen/Erms | |
Germany | |
Phone: | 071 23 / 724-0 |
Fax: | 071 23 / 724-9006 |
E-mail: | jens.winter@elringklinger.com |
Internet: | www.elringklinger.de |
ISIN: | DE0007856023 |
WKN: | 785602 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
End of News | DGAP News Service |