Dividend
The dividend development of the RWE Group provides evidence of the long-term and sustained strength of our company.
Our dividend policy targets a regular payout ratio of 50% to 60% of recurrent net income. This figure is calculated by subtracting from net income the non-operating result which is affected by one-off effects and major non-recurrent effects on the financial result, taxes, and income from discontinued operations.
The Annual General Meeting of RWE AG on April 20, 2011 approved a dividend of €3.50 per share for fiscal 2010. Relative to recurrent net income, this results in a payout ratio of 50%. The dividend was paid on April 21, 2011.
Dividend/dividend payment
| 1 Based on the closing share prices. | ||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||
| Dividend payment | € million | 1,867 | 1,867 | 2,401 | 1,689 | 1,968 | 984 | 844 |
| Payout ratio | % | 50 | 53 | 71 | 57 | 80 | 44 | 47 |
| Dividend per share | € | 3.50 | 3.50 | 4.50 | 3.15 | 3.50 | 1.75 | 1.50 |
| Dividend yield common share1 | % | 7.0 | 5.2 | 7.1 | 3.3 | 4.2 | 2.8 | 3.7 |
| Dividend yield preference share1 | % | 7.3 | 5.6 | 8.4 | 3.8 | 4.9 | 3.2 | 4.4 |
Our dividend proposal for fiscal 2011 will again be in line with our usual payout ratio of 50 % to 60 %. The basis for calculating the payout ratio is recurrent net income, which is expected to be approximately 35 % lower than last year.
Here you will find more information on the Annual General Meeting 2011.
