Dividend of €1 proposed for fiscal 2014.

The Supervisory Board and the Executive Board of RWE AG will propose a dividend of €1 per share for fiscal 2014 to the Annual General Meeting on 23 April 2015. If the proposal is accepted, we will pay 48 % of recurrent net income to our shareholders. Based on the year-end closing prices of our common and preferred shares, the dividend yields stood at 3.9 % and 5.3 %, respectively. This exceeds the average of other DAX companies. Whereas our dividend proposal for fiscal 2014 is oriented solely towards a target range of 40 % to 50 % of recurrent net income, we will widen the criteria for our dividend policy for future years. Starting with the 2015 financial year, in addition to earnings, we will consider operating cash flows, indebtedness and opportunities for growth investments.

Further information:
RWE adopts new dividend policy


Dividend/dividend payment

1 Based on the annual average number of shares outstanding.

2 Dividend proposal for RWE AG‘s 2014 fiscal year, subject to the passing of a resolution by the 23 April 2015 Annual General Meeting.

3 Ratio of the dividend payment to recurrent net income.

4Ratio of the dividend per share to the share price at the end of the fiscal year.

Earnings per share12.77-4.492.133.356.20
Recurrent net income per share12.093.764.004.607.03
Dividend per share1.00²1.
Dividend payment€ million6156151,2291,2291,867
Payout ratio3%4827505050
Dividend yield common share4%
Dividend yield preference share4%