The overriding objective of the Group is to generate an attractive total shareholder return for its shareholders. The Group targets a maximization of total shareholder return along various components, which particularly includes an increase in earnings growth next to an attractive dividend yield.
The Group thus intends to pay out 50% of adjusted net income as a dividend (previously 80% to 90%) for the first time in the financial year 2018 (to be paid in 2019). ProSiebenSat.1 will use the funds thus released primarily for earnings-increasing investments in organic and inorganic
growth.
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 adjusted EBITDA - i.e. the EBITDA adjusted for reconciling items that the ProSiebenSat.1 Group has generated in the last twelve months (LTM = last twelve months).
Initially, the Company had announced to propose a dividend of EUR 0.85 per share to the Annual General Meeting. To manage and further preserve liquidity also in a possibly longer-lasting COVID-19 crisis, the Executive Board and the Supervisory Board decided to propose to the Annual General Meeting to not pay-out a dividend for fiscal year 2019. The shareholders agreed to the Executive Board’s and Supervisory Board’s proposal to carry forward the full amount of the balance sheet profits to the new accounting period and thus to not pay out a dividend for financial year 2019. This one-time measure secures additional liquidity of EUR 192 million for the Group in the uncertain environment caused by COVID-19. At the same time, the Group confirmed its current dividend policy with a payout ratio of 50% of the Group’s adjusted net income.
In Euro |
2019 |
2018 | 2017 | 2016 |
2015 |
|---|---|---|---|---|---|
|
IFRS |
IFRS |
IFRS |
IFRS |
IFRS |
|
|
Number of shares in million1 |
233.0 |
233.0 |
233.0 |
233.0 |
218.8 |
|
Underlying earnings per share |
1.71 |
2.36 |
2.40 |
2.47 |
2.19 |
|
Dividend per dividend entitled common share |
- |
1.19 |
1.93 |
1.90 |
1.80 |
|
Payout in million3 |
- |
269 |
442 |
435 |
386 |
|
Payout ratio |
- |
~50% |
80.3% |
84.7% |
82.6% |
|
Ex-dividend date |
- |
06/13/2019 |
05/17/2018 |
05/15/2017 |
07/01/2016 |
1 The share capital of ProSiebenSat.1 Media SE amounts to EUR 233,000,000.00. As a result of a capital increase, it rose from EUR 218,797,200.00 to a nominal amount of EUR 233,000,000.00 with effect from November 7, 2016. In this capital increase, ProSiebenSat.1 made partial use of the company’s Authorized Capital and issued 14,202,800 new, registered shares. On 08/16/2013, the 109,398,600 bearer
preference shares that existed at that time had already been converted into registered common shares, with the effect that the share capital then totaling EUR 218,797,200.00 consisted of 218,797,200 registered common shares with a nominal share in the share capital of EUR 1.00 each. Today, all (233,000,000) of the company’s registered common shares are now tradable, i.e. both the formerly unlisted registered
common shares and the registered common shares resulting from the conversion of the bearer preference shares. Until 08/16/2013, only the bearer preference shares of the company were publicly traded.
2 Adjusted due to changes in reporting practices for non-IFRS figures from the beginning of financial year 2017. The Annual Report 2016 comprises more detailed information on pages 73 and 74.
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.
- Change+4.08 %
- Volume (shares)1,315,103
