EQS-News
Annual General Meeting approves dividend of EUR 1.20 per share
- Siltronic AG approves dividend of EUR 1.20 per share for 2023.
- Weak demand expected to impact financial year 2024.
- New COO Klaus Buchwald to join Executive Board on June 1, 2024.
EQS-News: Siltronic AG / Key word(s): AGM/EGM
Press release |
Annual General Meeting approves dividend of EUR 1.20 per share
Munich, May 13, 2024 – At today's Annual General Meeting of Siltronic AG, the Executive Board and Supervisory Board looked back on a challenging financial year 2023. The continued weak demand, mainly due to increased inventories and the associated further postponement of delivery volumes, will also affect the current financial year.
In view of this expected development for 2024, at the Annual General Meeting the Executive Board proposed the distribution of a dividend of EUR 1.20 for the past financial year. The shareholders followed the proposal of the Executive Board and Supervisory Board, resulting in a total distribution of EUR 36 million to the company’s shareholders. This corresponds to a payout ratio of roughly 20 percent of the Group profit attributable to Siltronic shareholders. No further general changes to the dividend policy are planned.
All items on the agenda were approved by a large majority of shareholders. A total of 64.10 percent of Siltronic AG's share capital was represented at the Annual General Meeting.
The Annual General Meeting of Siltronic AG was held in person. The speeches of the CEO and the future Chief Operating Officer (COO) were broadcast live and are available on the company's website.
In his speech, CEO Dr. Michael Heckmeier addressed the 2023 financial year and the future development of Siltronic. “After a challenging financial year in 2023, we expect 2024 to be a year of transition to profitable growth, characterized by the ongoing weakness in demand. Driven by megatrends such as artificial intelligence, electromobility and digitalization, we expect demand to increase significantly in the medium and long term. Thanks to our new fab in Singapore, the global presence and high innovative strength, we are ideally positioned for this growth,” said Heckmeier.