Dividend Strategy

Deutsche Pfandbriefbank AG's (pbb) general dividend strategy, valid until the 2025 financial year calls for a payout of 50% as a regular dividend and 25% as a special dividend. The payout ratio is based on consolidated profit after tax attributable to shareholders after AT1 coupon acc. to International Financial Reporting Standards (IFRS).

As a rule, distributions are made subject to, and depending upon, economic viability, macroeconomic and sector-specific risks, including ESG risks, along with existing and anticipated regulatory requirements and future growth and investment plans. A persistant CET1 ratio of at least 14.0% is seen as an adequate benchmark for special distributions, especially in the context of the current geopolitical, macroeconomic and sector-specific uncertainty.

pbb continues to strive for a payout ratio that is stable in the long term and will review this metric on a regular basis.