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The Management Board today resolved to propose to the Annual General Meeting to be held on 26 May 2009 to carry forward the balance sheet profit for 2008 in full and not pay out any dividend. Hereby Klöckner & Co SE deviates from its previous dividend policy. In both previous years since the IPO in 2006, a dividend in the amount of €0.80 per non-par value share entitled to participate in the dividends was distributed.
The suspension of dividend distributions is connected to the revised action plan that was also adopted today and is designed to reduce costs as well as indebtedness because of the difficult economic environment and uncertain outlook.