The dividend development of the RWE Group provides evidence of the long-term and sustained strength of our company.
In light of the deterioration in the earnings prospects of the conventional electricity generation business, the Executive Board of RWE AG decided in its meeting on 19 September 2013 to adjust the company’s dividend policy. The Supervisory Board endorses the Executive Board’s decision to adjust the dividend policy. The Executive and Supervisory Boards intend to propose to the Annual General Meeting, which will take place on 16 April 2014, a dividend of EUR 1 per common and preferred share. Previous year’s dividend was EUR 2. The dividend proposal for the following fiscal years should be in line with a payout ratio of 40% to 50% of recurrent net income, as opposed to the previous range of 50% to 60%.
The recurrent net income 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.
1 Resolution of the Annual General Meeting held on 18 April 2013.
2 Ratio of the dividend payment to recurrent net income.
3 Ratio of the dividend per share to the share price at the end of the fiscal year.
|Dividend payment||€ million||1,2291||1,229||1,867||1,867||2,401||1,689||1,968|
|Dividend per share||€||2.001||2.00||3.50||3.50||4.50||3.15||3.50|
|Dividend yield common share3||%||6.4||7.4||7.0||5.2||7.1||3.3||4.2|
|Dividend yield preference share3||%||7.0||7.9||7.3||5.6||8.4||3.8||4.9|