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Knorr-Bremse AG is set to raise its dividend to €1.75 per share after a robust 2024 fiscal year, while unveiling Supervisory Board updates: Stephan Sturm will join as a candidate, and Dr. Theodor Weimer will step down at the Annual General Meeting.
Key Highlights:
- Dividend jumps to €1.75 per share, a 7% rise from last year
- Payout ratio climbs to 60%, reflecting strong operations
- Stephan Sturm, CEO of the Heinz Hermann Thiele Family Foundation, to join Supervisory Board
- Dr. Theodor Weimer to exit Supervisory Board role
- Chairman Reinhard Ploss says: “Stephan Sturm will be an outstanding addition to and enrichment of the Supervisory Board thanks to his extensive and many years of management experience.”
Following an impressive fiscal year in 2024, Knorr-Bremse AG plans to increase its dividend to €1.75 per share, up 7% from the prior year’s €1.64 per share. This decision, proposed by the Executive and Supervisory Boards, underscores the company’s solid operational success and dedication to its shareholders. The payout ratio will rise to about 60% this year—higher than the typical 40-50%—to adjust for non-recurring, non-cash items that impacted net income. Still, Knorr-Bremse aims to deliver a dividend that mirrors its operational strength, aligning with its long-standing policy.
Alongside the financial uplift, Knorr-Bremse is reshaping its Supervisory Board. Stephan Sturm, who leads the Heinz Hermann Thiele Family Foundation, will run for election as a new board member at the Annual General Meeting on April 30, 2025. The foundation, now holding 58.99% of the company’s shares indirectly, will secure two seats, including Ms. Julia Thiele-Schürhoff. Meanwhile, Dr. Theodor Weimer, the current Deputy Chairman, will resign at his own request, closing his tenure with appreciation from the company for his impactful service.
Dr. Reinhard Ploss, Chairman of the Supervisory Board, welcomed Sturm’s candidacy, stating, “Stephan Sturm will be an outstanding addition to and enrichment of the Supervisory Board thanks to his extensive and many years of management experience.” He also praised Dr. Weimer’s international expertise, which proved vital during challenging times. These changes, along with the dividend hike, await shareholder approval at the upcoming virtual meeting, with details available in the 2024 Annual Report at www.knorr-bremse.com.
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