BERLIN (dpa-AFX) - Knorr-Bremse AG (KNRRY.PK), a German manufacturer of braking systems, announced Wednesday that shareholders approved the proposal of the Executive Board and Supervisory Board to distribute a 7 percent higher dividend of EUR 1.75 per dividend-bearing share for the 2024 fiscal year at the Annual General Meeting. The total payout will therefore amount to approximately EUR 282 million.
The associated increase in the payout ratio is approximately 60 percent this year, compared to the long-term dividend policy of a payout ratio of 40 to 50 percent.
The Annual General Meeting also elected Stephan Sturm, Chairman of the Board of the Heinz Hermann Thiele Family Foundation, to the Supervisory Board.
With Julia Thiele-Schürhoff and Sturm, two of the twelve Knorr-Bremse Supervisory Board seats are now filled by representatives of the family foundation. Sturm succeeds Theodor Weimer, who resigned from the Supervisory Board at his own request and in mutual agreement with the Supervisory Board and the family foundation.
The company said this year's Annual General Meeting was again held virtually, with a total of 90.22 percent of Knorr-Bremse's share capital being represented at the meeting.
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