Progressive dividend policy with €0.45 increase over prior year
High approval rates for all agenda items
At the Siemens AG Annual Shareholders’ Meeting that was held today, the shareholders decided by a large majority of 99.91 percent to approve the Managing and Supervisory Boards’ proposal that a dividend of €4.70 per share be distributed for fiscal 2023. As a result, Siemens has raised the dividend €0.45 compared to the prior year and has continued to pursue its progressive dividend policy in an impressive manner. In addition, the Annual Shareholders’ Meeting voted by large majorities to ratify the acts of the members of the Managing and Supervisory Boards for fiscal 2023. The number of people following the Annual Shareholders’ Meeting worldwide peaked at more than 4,395. Around 147 questions were asked during this year’s event, and about 64.38 percent of the voting stock was represented.
“Siemens has become even more digital, even more sustainable and even more competitive,” said Werner Brandt, Second Deputy Chairman of the Supervisory Board of Siemens AG and chair of this years’ Annual Shareholders’ Meeting. “Today’s Siemens is better positioned than ever to play a vital role in driving its customers’ transformations in digitalization and sustainability,” added Brandt. Werner Brandt chaired this year’s Annual Shareholders’ Meeting because Jim Hagemann Snabe, who is the Supervisory Board Chairman and was originally designated to chair the Annual Shareholders’ Meeting, could not participate due to a leg injury.
“Fiscal 2023 was our third record-setting year in a row. We were more profitable than ever before. We had promised a progressive dividend policy, and we’re keeping our word by increasing the dividend by a good 10 percent,” said Roland Busch, President and CEO of Siemens AG. “Our strategy is paying off: We combine the real and the digital worlds. With artificial intelligence, we can now do that even better. Siemens has a diversified setup: That makes us robust and resilient, and it boosts our growth.”
With a large majority of 99.76 percent, the shareholders followed the Supervisory Board proposal – based on the recommendation of its Audit Committee – that PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft be appointed as independent auditors of the Annual Financial Statements of Siemens AG and the Consolidated Financial Statements of the Siemens Group for fiscal 2024 and as auditor for the audit review of the Condensed Financial Statements and the Interim Management Report for the Siemens Group for the first half of fiscal 2024. In addition, among other things, the Annual Shareholders’ Meeting approved the compensation system for the Managing Board members. A resolution on such approval was on the agenda because periodic approval after four years was due and because the Supervisory Board had decided to amend the compensation system, effective October 1, 2023.
During the general debate at the Annual Shareholders’ Meeting, shareholders had the opportunity to join the meeting live per video to make statements or ask questions. They did not have to submit their questions in advance. In addition, the main focal points of the speeches by the Second Deputy Chairman of the Supervisory Board and by the President and CEO were published on the internet in advance on January 31, 2024.