EQS-News: HORNBACH Holding AG & Co. KGaA: Annual General Meeting approves dividend of Euro 2.40 and introduces staggered terms in office for Supervisory Board
EQS-News: HORNBACH Holding AG Co. KGaA
/ Key word(s): Dividend/AGM/EGM
HORNBACH Holding AG Co. KGaA: Annual General Meeting approves dividend of Euro 2.40 and introduces staggered terms in office for Supervisory Board
05.07.2024 / 13:41 CET/CEST
The issuer is solely responsible for the content of this announcement.
HORNBACH Holding AG Co. KGaA: Annual General Meeting approves dividend of Euro 2.40 and introduces staggered terms in office for Supervisory Board
Dividend of Euro 2.40 approved for 2023/24 financial year – distribution quota rises to 30.7% Hornbach has now paid a dividend without interruption or reduction for 37 years By AGM resolution, Supervisory Board introduces rotating system with staggered future terms and reduces term in office to four-year maximumBornheim (Palatinate), Germany, July 5, 2024.
Shareholders at today’s Annual General Meeting of HORNBACH Holding AG Co. KGaA (ISIN: DE0006083405) voted with a large majority to approve the distribution of a dividend of Euro 2.40 per share (2022/23: Euro 2.40). This corresponds to a distribution quota of 30.7% (2022/23: 24.4%) and a dividend yield of 3.5% based on the XETRA closing price on February 29, 2024. HORNBACH is thus maintaining the continuity of its reliable dividend strategy. Since its IPO in 1987, HORNBACH Holding has distributed a dividend at least at the previous year’s level to its shareholders each year.
Other proposals submitted by the Board of Management and Supervisory Board also received majority approval at the Annual General Meeting. These included the introduction of a rotating system for the composition of the Supervisory Board (“staggered board”). This means that, unlike to date, Supervisory Board members will no longer all be elected for identical terms in office ending on the same date, but rather individually proposed for re-election. In parallel, the future duration of a term in office will be reduced from five years currently to a maximum of four years. This new requirement takes immediate effect. This way, HORNBACH has ensured that, in terms of its organization, the Supervisory Board will regularly benefit from fresh momentum.
A total of 75.96% of HORNBACH Holding’s share capital was represented at the Annual General Meeting. The voting results for individual agenda items at the Annual General Meeting and a recording of the presentation given by Albrecht Hornbach are published on HORNBACH Holding’s website at: https://www.hornbach-holding.de/en/investor-relations/annual-general-meeting/
About the HORNBACH Group
HORNBACH is an independent, family-run retail group managed by HORNBACH Holding AG Co. KGaA, which is listed on the Frankfurt Stock Exchange and included in the SDAX. Its largest subsidiary, HORNBACH Baumarkt AG, operates 171 DIY megastores with garden centers (including specialist stores) and online shops in nine European countries. The HORNBACH Group also includes HORNBACH Baustoff Union, a regional builders’ merchant company with 38 locations in southwestern Germany and France, and HORNBACH Immobilien AG, which develops retail real estate for the Group. In the 2023/24 financial year (balance sheet date: February 29, 2024), the HORNBACH Group generated net sales of Euro 6.2 billion, making it one of the top five retailers for DIY and garden products in Europe. The Group has around 25,000 employees.
Press and Investor Relations contacts
Antje Kelbert
Head of Investor Relations
Tel.: +49 (0) 6348 / 60 2444
antje.kelbert@hornbach.com
Christian Grether
Press Spokesperson
Tel.: +49 (0) 6348 / 60 2571
christian.grether@hornbach.com Anne Spies
Senior Investor Relations Manager
Tel.: +49 (0) 6348 / 60 4558
anne.spies@hornbach.com
Maximilian Franz
Investor Relations Manager
Tel.: +49 (0) 6348 / 60 2071
maximilian.franz@hornbach.com
05.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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