- Dividend increases to EUR 2.60 per share
- Stock split at a ratio of 1:3
- General Shareholders’ Meeting also votes in favor of all other proposals by the Management Board and Supervisory Board
At its General Shareholders’ Meeting in Düsseldorf earlier today, Brenntag (WKN A1DAHH), the global market leader in chemical distribution, presented a strong result for fiscal year 2013. CEO Steven Holland was pleased with fiscal year 2013 and gave an overview for 2014.
The General Shareholders’ Meeting voted in favor of all proposals by the Management Board and Supervisory Board. Accordingly, it was resolved to increase the dividend to EUR 2.60 per Brenntag share, an increase of 8.3% year-on-year. The payout ratio is 39.5% of the net result attributable to Brenntag shareholders.
The vast majority of shareholders also approved the proposal to split shares at a ratio of 1:3, whereby each shareholder will receive, without additional payment, two supplementary shares per share held. Steven Holland, CEO Brenntag AG, explained the reasons for this move: “With this step, we aim to further increase the attractiveness of our shares for a wider range of investors and also to support trading with our shares.” The exact date at which this change is to take effect will be communicated by Brenntag in a separate press release in due time.
Brenntag, the global market leader in chemical distribution, covers all major markets with its extensive product and service portfolio. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 480 locations in more than 70 countries. In 2013, the company, which has a global workforce of more than 13,000, generated sales of EUR 9.8 billion (USD 13.0 billion). Brenntag is the link between chemical manufacturers and chemical users. The company supports its customers and suppliers with tailor-made distribution solutions for industrial and specialty chemicals. With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to around 170,000 customers. This includes specific application technology, an extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling. Long-standing experience and local excellence in the individual countries characterize the global market leader for chemical distribution.