Phoenix Solar Aktiengesellschaft: Board of Directors proposes dividend distribution

Phoenix Solar Aktiengesellschaft / Dividend

09.03.2010 06:59

Dissemination of an Ad hoc announcement according to § 15 WpHG,
transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Sulzemoos 9 March 2010 / The Board of Directors of Phoenix Solar AG (ISIN
DE000A0BVU93), a leading photovoltaic system integrator listed on the
TecDAX, reached a decision today on a proposal to be put to the Annual
General Meeting of Shareholders to pay dividend of EUR 0.20 per share for
the financial year 2009 (2008: EUR 0.30). This resolution is subject to the
adoption of the annual financial statements for the financial year 2009 and
approval by the Supervisory Board.

The financial year 2009 was characterised by extremely volatile demand and
an unexpectedly sharp downturn in the selling prices of photovoltaic
systems. These effects caused net income for the year to decline
considerably as against the previous year's results based on the
preliminary figures. The company continues to pursue its
shareholder-oriented dividend policy, which is geared to the growth and the
respective performance, and proposes to pay dividend which is lower than
that distributed in the previous year.

The final dividend proposal to be put to the Annual General Meeting of
Shareholders, which will take place on 16 June 2010, will be announced when
the Annual General Meeting is convened. All 6,700,700 of the currently
traded shares of Phoenix Solar AG are entitled to dividend.


This is an English translation of the German original. Only the German
version is binding.

Disclaimer
The content of this press release is solely for information purposes and is
not intended to constitute a recommendation for investment or a
solicitation to subscribe or an offer to buy or sell securities of the
company. Phoenix Solar AG shall undertake no liability whatsoever for any
loss in connection with this press release or the information made
available. This also applies particularly to any eventual loss in
connection with the shares of Phoenix Solar AG.

This document contains forward-looking statements on future developments
which are based on management's current assessment. Words such as
'anticipate', 'assume', 'believe', 'estimate', 'expect', 'intend',
'can/could', 'plan', 'project', 'forecast', 'should', and similar terms are
indicative of such forward-looking statements. Such statements are subject
to certain risks and uncertainties which are mainly outside the sphere of
influence of Phoenix Solar AG, but which have an impact on the business
activities, the success, the business strategy and the results. These risks
and factors of uncertainty include, for instance, climatic change, changes
in the state subsidisation of photovoltaics, the introduction of competitor
products or technologies of other companies, the development of the planned
internationalisation of business activities, fierce competition as well as
rapid technological change in the photovoltaic market. If one of these or
other factors of uncertainty or risks should occur, or if the assumptions
underlying the statements should prove incorrect, the actual results may
diverge substantially from the results in these statements or implicit
indications. Phoenix Solar AG does not have the intention nor will it
undertake any obligation to realise forward-looking statements on an
ongoing basis or at a later point in time as this is entirely dependent on
circumstances prevailing on the day of their release.

In some countries, especially in the United States of America, the
dissemination of this press release and the information contained therein
may be restricted or prohibited under the law. This press release is
therefore expressly not intended for persons resident in the United States
of America or any other legal system under which such an offer or
solicitation is not permissible, or for persons for whom such an offer or
invitation would constitute a breach of the law.


09.03.2010 Ad hoc announcement, Financial News and Media Release
distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Phoenix Solar Aktiengesellschaft
              Hirschbergstraße 8
              85254 Sulzemoos
              Deutschland
Phone:        +49 (0)8135-938-000
Fax:          +49 (0)8135-938-099
E-mail:       kontakt@phoenixsolar.de
Internet:     http://www.phoenixsolar.de
ISIN:         DE000A0BVU93
WKN:          A0BVU9
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, Düsseldorf, München, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------