- Dividend increases to 1.05 EUR per share (+5.0% on previous year)
- New Supervisory Board members elected: Wijnand Donkers and Ulrich Harnacke
Brenntag, the global market leader in chemical distribution, held its Ordinary General Shareholders’ Meeting in Düsseldorf earlier today. In his speech, Chief Executive Officer Steven Holland reported to shareholders on the positive overall performance of the company in fiscal year 2016. Due to its international orientation and broad diversification, in a challenging global business environment the company succeeded in increasing the key performance indicators gross profit and operating EBITDA and once again translating its operating earnings into a high free cash flow. However, the economic climate varied considerably in the different Brenntag regions.
With an attendance rate of over 78%, the General Shareholders’ Meeting approved the proposed Management Board and Supervisory Board resolutions with a large majority in each case. Accordingly, it resolved to pay dividends in the amount of 1.05 EUR per share, an increase of 5.0% compared with the previous year. This means that the payout ratio is 45.0% of the profit after tax attributable to Brenntag shareholders. Since going public in 2010, the company has paid its shareholders a higher dividend each year, and has since more than doubled the original dividend overall.
A key agenda item in the General Shareholders’ Meeting was the election of Supervisory Board members. Dr Thomas Ludwig and Prof. Dr Edgar Fluri left the board effective as of the end of this General Shareholders’ Meeting. To replace them, Wijnand Donkers and Ulrich Harnacke were elected by the shareholders as new Supervisory Board members.
In his speech, Supervisory Board Chairman Stefan Zuschke thanked the departing Supervisory Board members for their long years of service to Brenntag: “With their extensive experience and know-how, Dr Thomas Ludwig and Prof. Dr Edgar Fluri made a significant contribution to the Supervisory Board’s work alongside the Management Board. On behalf of the entire Supervisory Board and Management Board, I would like to take this opportunity to thank them most sincerely for their hard work and commitment.”