Volkswagen shareholders approve substantial dividend increase

Volkswagen shareholders approve substantial dividend increase

Volkswagen shareholders approve substantial dividend increase

The FINANCIAL -- The shareholders of Volkswagen Aktiengesellschaft are to receive a dividend of 4.80 (previous year: 4.00) EUR per ordinary share and 4.86 (4.06) EUR per preferred share for fiscal year 2014.

The shareholders present and represented at the 55th Annual General Meeting held in Hanover on Tuesday voted by a majority of 99.99 percent to approve the recommendation of the Board of Management and the Supervisory Board. Approximately 2.3 billion EUR will therefore be appropriated from the net profit of Volkswagen AG. Further resolutions passed by 91.93 percent of the ordinary shareholders present and represented at the Annual General Meeting included formal approval of the actions of the members of the Board of Management and the Supervisory Board for fiscal year 2014, according to Volkswagen.

Dr. Hussain Ali Al-Abdulla, Board Member of Qatar Investment Authority and Board Member of Qatar Holding LLC, was returned for a further full term on the Supervisory Board. Furthermore, the Annual General Meeting elected Akbar Al Baker, Minister of State and Group Chief Executive of Qatar Airways, to the Supervisory Board. He succeeds Ahmad Al-Sayed for the rest of his term of office. Ahmad Al-Sayed stepped down from his office as a member of the Supervisory Board with effect from the end of the Annual General Meeting.

In addition, the shareholders granted the Board of Management an authorization to issue up to a maximum of 70 million new non-voting preferred bearer shares over the next five years.