Knorr-Bremse’s virtual Annual General Meeting on 30 April saw shareholders endorse an increased dividend payment amounting to €282 million for the 2024 fiscal year.
Shareholders endorsed the proposal of the Executive and Supervisory Boards to pay a dividend of €1.75 per share with dividend rights to 161,200,000 shares.
This is equivalent to an increase of about seven per cent compared with last year’s dividend payment of €1.64 per share.
The associated increase of the payout ratio to around 60 per cent this year takes into account that consolidated net income has been reduced by non-recurring non-cash items. The shareholders will receive a dividend that reflects the company’s impressive operational performance and, excluding the non-recurring effects, reflects the long-term dividend policy of a payout ratio of 40 per cent to 50 per cent.
The AGM also elected Stephan Sturm, CEO of the Heinz Hermann Thiele Family Trust, as a new member of the Supervisory Board.
With Julia Thiele-Schürhoff and Stephan Sturm, two of the twelve seats on Knorr-Bremse’s Supervisory Board are now held by representatives of the Family Trust.
Sturm succeeds Dr Theodor Weimer, who resigned at his own request and in amicable agreement with the Supervisory Board and the Family Trust and has stepped down from the Supervisory Board.
In other news, Knorr-Bremse is working on a performance dashboard for commercial vehicle workshops with Dutch company, WESP.
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