voestalpine’s Annual General Meeting resolves dividend of EUR 0.20

2020-07-01 |

In an economically challenging environment, the past business year was a particularly difficult one for voestalpine AG. The steel and technology group is sticking to its long-term and steady dividend policy despite its negative earnings performance. The 28th Annual General Meeting (AGM) today resolved a dividend of EUR 0.20 per share for the business year 2019/20 (down from EUR 1.10 a year earlier). This year’s AGM, which was conducted virtually without the shareholders being physically present, followed the proposal of both the Management Board and the Supervisory Board. The dividend will be paid on July 13, 2020 (ex-dividend date: July 9, 2020).

Based on voestalpine’s average share price of EUR 23.38 in the business year 2019/20, the dividend for the business year represents a return on investment (ROI) of 0.9% (previous year: 3.1%). voestalpine AG has paid a dividend to its shareholders every year since it went public in 1995, for a grand total of EUR 3.1 billion (including this year’s dividend payment). The average dividend yield for the past ten business years is 2.9%. Roughly 25,300 employees, who are shareholders of voestalpine AG through the Group’s employee shareholding scheme, also benefit from the company’s dividend continuity. On the whole, this employee shareholding scheme—Austria’s largest based on both the percentage of votes and the value of its shareholdings—represents about 14.8% of the voting rights of voestalpine AG.

The voestalpine Group

In its business segments, voestalpine is a globally leading steel and technology group with a unique combination of materials and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its top-quality products and system solutions, it is a leading partner to the automotive and consumer goods industries as well as the aerospace and oil & gas industries, and is also the world market leader in railway systems, tool steel, and special sections. voestalpine is fully committed to the global climate goals and is working intensively to develop technologies which will allow it to decarbonize and reduce its CO₂ emissions over the long term. In the business year 2019/20, the Group generated revenue of EUR 12.7 billion, with an operating result (EBITDA) of EUR 1.2 billion; it had about 49,000 employees worldwide.