Voestalpine Annual General Meeting approves dividend of EUR 1.50

by David Fleschen

Voestalpine AG once again achieved record figures in the business year 2022/23, demonstrating its robust strategic position in an exceptionally turbulent global environment. With the highest level of revenue and best operating result in the company’s history, the steel and technology group is able to raise its dividend to the second highest level since its listing on the stock exchange in 1995: At the 31st Annual General Meeting held in the Linz Design Center, a dividend of EUR 1.50 per share was agreed for the business year 2022/23. This is 25% higher than in the previous year (EUR 1.20). The Annual General Meeting therefore followed the proposal of the Management Board and the Supervisory Board. The payment of the dividend shall be made as from July 18, 2023 (ex-dividend day: July 13, 2023).

Relative to the voestalpine share’s average price of EUR 25.09 in the business year 2022/23, the dividend yield is 6%, a substantial increase over the previous business year’s 3.6%. voestalpine AG has paid a dividend to its shareholders every year since its listing on the stock exchange in 1995, amounting to a total payout (including the business year 2022/23) of EUR 3.6 billion. The average dividend yield since 1995 is 3.6%. The highest dividend (EUR 2.10) was paid out in the business year 2007/2008.

The Annual General Meeting also authorized the Management Board to buy back no-par bearer shares to a maximum of 10% of the company’s total share capital. This is effectively a renewal of the authorization for a share buyback program issued in 2021 which, among others, will be used to expand the employee shareholding scheme or to service convertible bonds. The share buyback program is authorized to run for a period of 30 months. In this connection, the Management Board of voestalpine was also authorized to buy back its own shares in a manner other than via the stock exchange, or via a public offer, or to redeem own shares, thereby reducing the share capital.

Source and Photo: Voestalpine

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