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SAP Recommends Dividend Increase |
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WALLDORF, Germany - March 17, 2005 - The Executive Board and the Supervisory Board of SAP AG (NYSE:SAP) recommend that shareholders approve a dividend of €1.10 per ordinary share at this year’s Annual General Meeting. This would represent an increase of 37.5% over the 2003 dividend of €0.80 per ordinary share. If the shareholders approve this recommendation the total amount distributed in dividends would be approximately €341 million. The Annual General Meeting is scheduled for May 12, 2005 in Mannheim, Germany. The payment of the dividend is scheduled for or after May 13, 2005.
“We delivered a year of double-digit growth in software revenues, our net income increased by 22%” said Werner Brandt, CFO of SAP AG. “SAP is among the few software companies that pay dividends to its shareholders and we have done so continuously since 1988 when SAP was listed on the Frankfurt Stock Exchange. It has always been our policy to let our shareholders participate in SAP’s success and this year’s dividend recommendation is, once again, testimony to this policy. Over the midterm, our goal is to pay out approximately 30% of SAP AG’s net income to our shareholders."
Note to holders of SAP ADRs (American Depositary Receipts): One SAP ADR (American Depositary Receipt) represents one-fourth of SAP AG’s ordinary share. Accordingly, the final dividend per ADR is calculated as one-fourth of the €1.10 dividend and is dependent on the Euro/US-Dollar exchange rate. SAP AG pays cash dividends in Euro, so the exchange rate fluctuations will also affect the US-Dollar amounts received by the holders of ADRs on the conversion into US-Dollars of cash dividends paid in Euro on the ordinary shares represented by the ADRs. The final dividend payment by SAP AG to the depositary bank is scheduled for May 13, 2005. The depositary bank will then convert the dividend payment from Euro into US-Dollar as promptly as practicable.
About SAP
SAP is the world’s leading provider of business software solutions*. Today, more than 26,150 customers in over 120 countries run more than 88,700 installations of SAP® software—from distinct solutions addressing the needs of small and midsize businesses to enterprise-scale suite solutions for global organizations. Powered by the SAP NetWeaver™ platform to drive innovation and enable business change, mySAP™ Business Suite solutions are helping enterprises around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP industry solutions support the unique business processes of more than 25 industry segments, including high tech, retail, public sector and financial services. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” |
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