We have a strong financial foundation and involve our shareholders adequately in the Company’s success. We want to continue this profit-oriented dividend policy in the future and distribute an annual dividend of 80 % to 90 % of underlying net income. At the same time, we adhere to the targeted leverage factor of 1.5 to 2.5. It indicates the level of netdebt in relation to LTM recurring EBITDA - i.e. the EBITDA adjusted for non-recurring items that the ProSiebenSat.1 Group has generated in the last twelve months (LTM = last twelve months).
The ProSiebenSat.1 Media SE Executive Board and Supervisory Board intend to propose to the Annual General Meeting a dividend payment of EUR 1.90 per common share for the financial year 2016. This corresponds to a total payout of EUR 435 million and a payout ratio of 84.7% of the Group’s underlying net income (calculated on the basis of 228.8m shares entitled to a dividend; 4.2m treasury shares are not entitled to a dividend).
The final decision will be taken by the shareholders at the Annual General Meeting which will be held on May 12, 2017. The effective dividend date is the date of the Annual General Meeting and, therefore, May 12, 2017. Thus, all common shareholders who own ProSiebenSat.1 shares on this date are entitled to a dividend. The dividend payment starts on May 17, 2017, the ex-dividend quotation comes into effect on that day as well.
Number of shares in million1
Underlying earnings per share2
Dividend per dividend entitled common share
Dividend per dividend-entitled preference share
Payout in million3
1 One single share class as of August 16, 2013 (conversion of the non-voting bearer preference shares into voting registered common shares).
2For the financial years 2009 to 2012, the basic earnings per bearer preference share are shown. After the merger of the share classes in August 2013, the basic earnings per registered common share are shown. The calculation is based on underlying net income.
3 ProSiebenSat.1 Media SE held at the time of the Annual General Meeting preference shares as treasury stock. Shares directly or indirectly owned by the company are in accordance to § 71b AktG not entitled to receive a dividend.
4 Based on the underlying net income after minorities from continuing operations for the year.