Knorr-Bremse Hikes Dividend 13%

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Knorr-Bremse AG, a leader in braking systems and commercial vehicle technologies, recently concluded its Annual General Meeting (AGM), where it announced a significant 13% increase in dividends to €1.64 per share. This decision aligns with the company’s consistent dividend policy and underscores its financial health and commitment to shareholder value.

Key Highlights:

  • Dividend Increase: Shareholders approved the dividend rise to €1.64 per share, totaling a distribution of approximately €264 million.
  • Shareholder Approval: All agenda items received strong backing, with about 95% support for the revamped executive remuneration system emphasizing profitability and sustainability.
  • AGM Format: The meeting was conducted virtually, representing about 90% of share capital.

At the meeting, shareholders were in robust agreement, approving all agenda items presented. The dividend increase to €1.64 for the fiscal year 2023 involves 161,200,000 dividend-entitled shares, reflecting a payout ratio of 46% of the consolidated net income, which stays within the company’s target range of 40% to 50%.

The approval of the modified executive remuneration system, which now places greater emphasis on profitability, earnings, and environmental, social, and governance (ESG) factors, received approximately 95% support from the shareholders. This modification enhances transparency and aligns with recent trends in executive compensation practices.

The AGM, held virtually, had about 90% of Knorr-Bremse’s share capital represented. Soon, a recording of the speeches and detailed voting results on the agenda items will be accessible on their investor relations website.

About Knorr-Bremse: Knorr-Bremse stands as a global frontrunner in the market and technology sectors for braking systems and other rail and commercial vehicle systems. With around 33,000 employees worldwide, the company continues to drive innovation, focusing on safety, energy efficiency, and cutting-edge solutions. In 2023, Knorr-Bremse’s combined divisions generated revenues nearing €7.9 billion, showcasing their pivotal role in the mobility and transportation industry influenced by urbanization, sustainability, digitalization, and mobility trends.

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The Brake Report
The Brake Report

The BRAKE Report is an online media platform dedicated to the automotive and commercial vehicle brake segments. Our mission is to provide the global brake community with the latest news & headlines from around the industry.