During its virtual annual general meeting in Cologne, the shareholders of DEUTZ, the German off-highway diesel engine maker, approved the board of management and supervisory board’s proposal to pay a dividend of €0.15 per share for 2021.
Because the company intends to fund its capital expenditure predominantly from the capital at its disposal, it will revert to its fundamental policy of paying a dividend of around 30% in the future. This equates to an above-average payout of about 47% of net income, whereas no dividend had been paid for the two previous years. Around 50% of the company’s issued capital with voting rights was represented at the AGM, held on Thursday, 28 April 2022.
DEUTZ CEO Dr. Sebastian C. Schulte said: “2021 was a successful year for us, and we made significant progress. However, the EBIT margin before exceptional items of 2.3% is only a first step back in the right direction. We cannot rest on our laurels. If we are to generate further profitable growth, we must – and we will – put our foot even further to the floor.”
Dr. Dietmar Voggenreiter, who has been chairman of the supervisory board of DEUTZ since February 12 2022, added: “In 2021, DEUTZ created a strong basis for sustainable growth. The board of management team under the new CEO Sebastian Schulte will further delineate DEUTZ’s strategy and push ahead with the transformation in a profitable manner. We realise that our shareholders have clear expectations.”
