Software AG

  • WKN: A2GS40
  • ISIN: DE000A2GS401
  • Land: Germany

Nachricht vom 20.03.2020 | 17:43

Software AG intends increasing dividend and postpones its annual shareholders' meeting

DGAP-News: Software AG / Key word(s): AGM/EGM/Dividend
20.03.2020 / 17:43
The issuer is solely responsible for the content of this announcement.

Software AG intends increasing dividend and postpones its annual shareholders' meeting

- Dividend set to increase to EUR 0.76 (PY: 0.71) Euro per share

- Postponement of annual shareholders' meeting due to pandemic

Darmstadt, March 20, 2020 - Software AG (Frankfurt, MDAX: SOW) today announced to postpone its annual shareholders' meeting that was originally planned for May 20, 2020.

The decision was taken in light of the rapid spread of the Coronavirus (COVID-19) and the related precaution and limitations to assemblies.

"The health and safety of our shareholders, the employees organizing the annual shareholders' meeting and its involved service providers take priority. In postponing this event, Software AG is complying with its social responsibility and contributing towards the objective of slowing down the spread of the coronavirus." comments Dr. Andreas Bereczky, Chairman of Software AG's Supervisory Board.

The shareholders' meeting will be rescheduled as soon as the hazard situation has eased and execution is possible again without increased risk. Software AG will inform its shareholders as well as the public of the next steps in due course.

Furthermore the Management Board and Supervisory Board decided to propose a dividend increase to the postponed Annual General Meeting, reaching a record high with a dividend proposal of EUR 0.76 per share (PY: EUR0.71) for fiscal 2019.

Based on the approximately 74.0 million shares currently entitled to a dividend payment, the total payout would increase to EUR 56 million (PY: EUR 52.2). As measured by the free cash flow, the payout ratio would be more than 38 percent. Software AG consistently generates high free cash flow results and uses it for a continuous dividend development as well as for financing growth.

Based on the 2019 closing share price (Xetra-closing share price as of December 30, 2019: EUR 31.10), this corresponds to a dividend yield of 2.4 percent.

"We are strongly committed to deliver value to our shareholders and the target of our strategy realignment "HELIX" is to lay the foundation for future profitable growth. We are proud that our strong cash flow allows to again increase the dividend for our shareholders and equally invest in future growth" says Sanjay Brahmawar, CEO of Software AG.

The fact that the annual shareholders' meeting will no longer be held on its original date will have several consequences including the postponement of the resolution on the use of the non-appropriated balance sheet profits 2019 and the payout of the dividend.

Kontakt:

Otmar F. Winzig
otmar.winzig@softwareag.com
Senior Vice President Investor Relations
Tel: +49 (0) 6151 92-1669
Frederic Freichel
frederic.freichel@softwareag.com
Senior Manager Investor Relations
Tel: +49(0) 6151 92-1106


20.03.2020 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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