- Annual General Meeting formally approves actions of Management Board and Supervisory Board
Munich, 30 May 2017 – Shareholders of Deutsche Pfandbriefbank AG (pbb) will receive dividends of €1.05 per no-par value share entitled to dividend payments. The Company’s Annual General Meeting on Tuesday passed a corresponding resolution, thus approving the proposals submitted by the Management Board and the Supervisory Board.
Thanks to a solid performance in its core business, and further supported by non-recurring income, pbb generated pre-tax profit of €301 million in 2016; profit after taxes amounted to €197 million, or €1.46 per share. The dividend includes a Special dividend in addition to the distribution within the communicated dividend strategy of 40% to 50% of consolidated profit after taxes in accordance with IFRS. Based on the year-end Xetra closing price, this translates into a dividend yield of 11.5 per cent.
Furthermore, the Annual General Meeting formally approved the actions of the
Management Board and the Supervisory Board, with a large majority, and appointed KPMG AG Wirtschaftsprüfungsgesellschaft as external auditors.
The initial attendance rate was 64.22% of the share capital.
Results of resolutions passed by the 2017 Annual General Meeting
| Agenda item | Approval rate |
|---|---|
| Resolution on the appropriation of consolidated Profit | 99.99% |
| Passing of a resolution on the formal approval of the members of the Management Board for the 2016 financial year | 99.65% |
| Passing of a resolution on the formal approval of the members of the Supervisory Board for the 2016 financial year | 98.30% |
| Resolution on the appointment of external auditors for the financial statements and consolidated financial statements, and auditors for any review of interim financial information | 99.83% |
Media Contacts:
Walter Allwicher, +49 89 2880-28787, walter.allwicher(at)pfandbriefbank.com
Oliver Gruss, +49 89 2880-28781, oliver.gruss(at)pfandbriefbank.com