Knorr-Bremse’s Dividend Increase Plan

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Knorr-Bremse AG, a global leader in braking systems and other rail and commercial vehicle systems, has announced its intention to increase its annual dividend by 13% to €1.64 per share. This decision comes after a year marked by significant challenges yet notable success, reflecting the company’s strong business development throughout 2023. The proposed increase is a testament to Knorr-Bremse’s robust financial performance and its commitment to sharing success with its shareholders.

Key Highlights:

  • Dividend Increase: Proposal of a 13% dividend increase to €1.64 per share.
  • Strong Financial Performance: Reflective of successful 2023 fiscal year.
  • Shareholder Approval Needed: Decision pending at the upcoming virtual Annual General Meeting on April 30, 2024.
  • Sustainable Dividend Policy: Payout ratio aligns with the 40%-50% dividend distribution policy.
  • Global Industry Leadership: A forefront position in rail and commercial vehicle system solutions.

The Executive and Supervisory Boards of Knorr-Bremse have confirmed the dividend proposal, emphasizing the company’s stable payout ratio of approximately 46% of the consolidated net income for 2023. This decision is consistent with Knorr-Bremse’s long-standing dividend policy, which aims to distribute between 40% and 50% of its net income to its shareholders.

The forthcoming virtual Annual General Meeting on April 30, 2024, will be a pivotal event for shareholders, who will vote on this proposal among other agenda items, including potential modifications to the Executive Board’s remuneration system. Invitations for this meeting have already been dispatched, underlining the importance of shareholder participation in key company decisions.

Knorr-Bremse’s 2023 Annual Report underscores the company’s sustained leadership in its sector, driven by innovation in mobility and transportation technologies. With approximately 33,000 employees worldwide, Knorr-Bremse has continued to develop solutions that contribute to safer, more energy-efficient transport on rails and roads globally. Despite the challenges faced in 2023, the company’s revenue reached about €7.9 billion, marking a significant achievement in its nearly 120-year history of technological advancement and industry leadership.

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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.