Porsche Proposes 41% Dividend Rise at May Annual Meeting

AutoInformed.com on New 2019 Porsche 911 - November 2018

Ex-Formula One driver Mark Webber with the new Porsche 911. Not surprisingly, he praised the sports car.

The Executive Board and Supervisory Board of Porsche Automobil Holding SE in Stuttgart wants to increase the dividend for the fiscal year 2019 by 41% to €3.11 (prior year: €2.21) per preferred share and €3.104 (prior year: €2.204) per ordinary share. This corresponds to a payout of 952 million (prior year: €676 million), of which €476 million is attributable to the holders of preferred shares.

On 19 May 2020 the annual general meeting in Stuttgart will decide on the proposed dividend if the COVID-19 Pandemic doesn’t prevent it.

Porsche SE’s group result after tax in the fiscal year 2019 rose to  €4.4 billion, an increase of 26.3% compared to the prior year (€3.5 billion). This was significantly influenced by the result from the investment accounted for at equity in Volkswagen AG of  €4.4 billion, after €3.6 billion in the prior year. Net liquidity of Porsche SE Group came to €553 million (€ 864 million) as of the 31 December 2019 reporting date. This decrease is primarily due to the acquisition of ordinary shares in Volkswagen in the first quarter of 2019. (AutoInformed Volkswagen Group Posts 2019 Profit Despite Diesel Charges)

The increase in Porsche SE’s proposed dividend is disproportionately higher than the increase in result. This growth come from the dividend proposal of Volkswagen AG, which increased the payout rate to 24.5%, after 20.4% in the prior year.

Porsche SE will publish its annual report for 2019 on 24 March 2020 on its website (https://www.porsche-se.com). As a precautionary measure, the originally planned annual press and analyst conference is cancelled due to the latest developments.

About Ken Zino

Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
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One Response to Porsche Proposes 41% Dividend Rise at May Annual Meeting

  1. Pingback: Porsche “Gives” Employees A Voluntary Bonus | AutoInformed

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