Business News
Supervisory Board approves dividend proposal
Monday 08. March 2010 - In its meeting, the Supervisory Board approved the financial statements of BASF SE for 2009 as well as the consolidated financial statements of BASF Group, which were submitted by the Board of Executive Directors.
In addition, the Supervisory Board approved the dividend proposal made by the Board of Executive Directors. The Board of Executive Directors and the Supervisory Board of BASF SE will therefore propose to the Annual Meeting on April 29, 2010 the payment of a dividend of 1.70 per share for 2009 (previous year: 1.95 per share).
BASF aims to increase its dividend each year or at least maintain it at the previous years level. In crisis year 2009, BASFs earnings were negatively impacted by expenses for the acquisition and integration of Ciba. The company therefore fell just short of earning its cost of capital. However, the reduced dividend proposal also reflects BASFs confidence for 2010.
On the basis of the number of qualifying shares as of December 31, 2009, the dividend of 1.70 per share would correspond to a total dividend payment of approximately 1.6 billion. Relative to the 2009 year-end share price of 43.46, BASF shareholders would thus receive a dividend yield of 3.9 percent. If the proposal is approved by the Annual Meeting, the dividend will be paid out on April 30, 2010.