DGAP-News: Hamburger Hafen und Logistik AG: HHLA will propose a scrip dividend to its shareholders
DGAP-News: Hamburger Hafen und Logistik AG
/ Key word(s): Dividend/AGM/EGM
Hamburger Hafen und Logistik AG: HHLA will propose a scrip dividend to its shareholders
14.07.2020 / 15:30
The issuer is solely responsible for the content of this announcement.
Hamburg, 14 July 2020
Hamburger Hafen und Logistik AG - virtual Annual General Meeting 2020
HHLA will propose a scrip dividend to its shareholders
Unchanged dividend proposal of € 0.70 per class A share Shareholders may receive dividends in cash or shares Free and Hanseatic City of Hamburg supports proposalThe Supervisory Board and Executive Board of Hamburger Hafen und Logistik AG (HHLA) will propose a scrip dividend to the virtual Annual General Meeting on 20 August 2020. In times of zero or negative interest, this innovative model for dividend distribution will provide shareholders with the opportunity to quickly and easily reinvest their capital in the company. This will allow HHLA to maintain stable financial liquidity even in challenging times with limited forecasting reliability. The Free and Hanseatic City of Hamburg, the major shareholder in HHLA, will support this proposal.
In March 2020, the Executive Board and Supervisory Board had recommended that approximately 50 percent of the net profit allocable to shareholders be distributed as dividends. The company remains committed to this distribution amount. HHLA remains faithful to the dividend policy it has followed since its initial public offering in 2007, which stipulates a distribution of 50 to 70 percent of the net profit. In view of the existing uncertainties in the wake of the coronavirus pandemic, HHLA is forging new paths to fulfil both the shareholders' legitimate interests in a distribution and the company's interest in preserving liquidity.
"HHLA closed the 2019 financial year very successfully," declared Angela Titzrath, Chairwoman of the Executive Board. "We want our shareholders to participate in this success. This is a signal of confidence which we are sending deliberately, notwithstanding the changed situation due to the coronavirus pandemic," added Titzrath. "Our proposal demonstrates our reliability to our shareholders. By adopting the share option, our company will have additional room to manoeuvre so we can continue to successfully develop HHLA."
Presumably from 21 August 2020 to 7 September 2020, shareholders will have time to decide on one of the two distribution options. The Free and Hanseatic City of Hamburg, as the majority shareholder, has decided to support this model and to receive the dividend, its municipal holding HGV is entitled to, in the form of listed shares in HHLA.
You can find additional information on the Annual General Meeting and the scrip dividend in the HHLA investor portal at www.hhla.de/agm.
This document is not an offer to sell subscription rights or A Shares referred to herein of Hamburger Hafen und Logistik Aktiengesellschaft in the United States of America. Securities of Hamburger Hafen und Logistik Aktiengesellschaft may not be registered in the United States of America absent prior registration under the U.S. Securities Act of 1933 as amended and/or may not be sold or offered for sale absent an exemption from this registration requirement. The subscription rights and A Sshares referred to herein have not been and will not be registered under the U.S. Securities Act. The subscription rights and A Shares are neither offered for sale nor sold in the United States of America.
Contact:
Stefanie Steiner
Head of Investor Relations
HAMBURGER HAFEN UND LOGISTIK AG
Bei St. Annen 1, D-20457 Hamburg, www.hhla.de
Tel: +49-40-3088-3397
Fax: +49-40-3088-55-3397
E-mail: investor-relations@hhla.de
14.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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