In general, Klöckner & Co SE follows a dividend policy of distributing 30% of net income before special items.
We complied with this dividend policy in 2006 and 2007 by distributing €0.80 per share each year. In fiscal year 2008, we suspended our dividend policy in view of the emerging euro crisis and dispensed with payment of a dividend. In 2009, we paid no dividend for reasons of our earnings situation. Starting in fiscal year 2010, we resumed our Company’s general dividend policy by paying a dividend of €0.30 per share. No dividend was paid in fiscal years 2011, 2012 and 2013, again for earnings-related reasons. In 2015 we distributed the balance sheet profit for fiscal year 2014 in the amount of €19,950,000 in full to the shareholders as dividend. Given 99,750,000 shares vested with dividend rights, this amount corresponds to a distribution of €0.20 per share.
For fiscal year 2016: The Management Board and Supervisory Board propose the distribution from Klöckner & Co SE’s net income available for distribution for fiscal year 2016 of an amount of €19,950 thousand to shareholders as dividend and the appropriation of the remaining €54,939 thousand of the net income available for distribution to other revenue reserves. With 99,750,000 entitled shares, the dividend proposal corresponds to a dividend of €0.20 per share. In general, Klöckner & Co follows a dividend policy of distributing 30% of consolidated net income before one-time items. Given that no dividend was paid out in the prior year and in view of the improved operating environment, the Management Board and Supervisory Board consider it appropriate to distribute a dividend in excess of this amount for 2016.