• WKN: 701080
  • ISIN: DE0007010803
  • Land: Deutschland

Nachricht vom 30.03.2020 | 13:30

Rational AG is reducing the proposed dividend for fiscal year 2019 from 10.70 to 5.70 euros per share

DGAP-News: RATIONAL AG / Key word(s): Dividend/AGM/EGM
30.03.2020 / 13:30
The issuer is solely responsible for the content of this announcement.

Press release
Landsberg am Lech, 30 March 2020

Rational AG is reducing the proposed dividend for fiscal year 2019 from 10.70 to 5.70 euros per share

The Executive Board of Rational AG adopted a proposed dividend of 10.70 euros per share and the Supervisory Board ratified it at the ordinary meeting of the Supervisory Board at the end of February 2020. This decision was published in the ad-hoc announcement on 10 March 2020 and in the 2019 Annual Report.

Since then, the negative impact of coronavirus on the general public and economy have worsened dramatically. That is hitting some of RATIONAL's customers hard. The further course of the coronavirus pandemic and its effects on Rational AG's business performance cannot be foreseen at the moment.

In order to safeguard the company's extremely solid financial situation, a strict cost-cutting program is under way throughout the Group and no vacant posts will be filled. The company aims to keep personnel costs down by reducing overtime and asking employees to use up their remaining leave. The option of short-time working will be used where possible.

As a commercial precaution and in order to preserve the strong liquidity situation the company has built up in good years, the Executive Board and Supervisory Board have unanimously adopted a new resolution, proposing to the General Meeting of Shareholders on 6 May 2020 the distribution of a dividend of 5.70 euros per share. The Executive Board and Supervisory Board reserve the right to reduce it further should the rapidly changing situation demand such a step.

"It is the company's clear intention to enable shareholders to share in its profits in the same way as before the reduction by granting special dividends, once the course of business normalises and provided the company has sufficient capital resources," says CEO Dr Peter Stadelmann. That approach was also practised in 2009 and 2010, after the dividend for fiscal year 2008 was reduced in the wake of the financial crisis.

Agenda of the General Meeting of Shareholders confined to legally necessary items
The General Meeting of Shareholders is currently scheduled to be held at Messe Augsburg exhibition centre on 6 May 2020. If it is cancelled on the instructions of the public authorities or is postponed, the company will publish that information on its homepage at https://www.rational-online.com/de_de/Unternehmen/Investor_Relations/.

Given the current threat as a result of coronavirus and the large risk of contracting it, the company explicitly points out that the agenda at this year's General Meeting of Shareholders will be confined to what is legally necessary.

"Dear shareholders, we do not yet know for sure whether we can hold the General Meeting of Shareholders as planned on 6 May. If we are able to, however, we would ask you to consider carefully whether you really wish to attend this year and, if in doubt, to stay away for the sake of your own health. You can also cast your votes by granting power of attorney and issuing instructions to the company's proxies. You do not have to take part in the General Meeting in person," explains Dr Stadelmann.

RATIONAL is renowned for demonstrating its culinary skills and offering its shareholders excellent catering at General Meetings. Given the exceptional situation and current statutory regulations, however, the Executive Board and Supervisory Board have decided not to offer participants a breakfast and lunchtime buffet this year. Instead, only a much reduced range of cold food will be offered for reasons of hygiene. RATIONAL thanks its shareholders for appreciating why this step is necessary.

Rational Aktiengesellschaft
Stefan Arnold / Head of Investor Relations
Tel. +49 (0)8191 327-2209
Fax +49 (0)8191 327-72 2209
E-mail ir@rational-online.com

Editorial note:
The RATIONAL Group is the global market and technology leader for thermal preparation of food in professional kitchens. Founded in 1973, the company employs around 2,200 people, over 1,200 of whom are in Germany. RATIONAL was floated in the Prime Standard of the German stock market in 2000 and is currently represented in the MDAX.

The company's principal objective is to offer maximum customer benefit at all times. Rational is committed to the principle of sustainability, which is expressed in its corporate policies on environmental protection, leadership, job security and social responsibility. Numerous international awards bear witness to the high quality of the work done by RATIONAL's employees year for year.

30.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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