At the 32nd Annual General Meeting of Voestalpine, a dividend of EUR 0.70 per share was agreed for the business year 2023/24 in accordance with the proposal of the Management Board and Supervisory Board. The payment of the dividend will be made starting July 16, 2024 (ex-dividend day: July 11, 2024). The new election of the Supervisory Board was also on the agenda at the Linz Design Center. All of the shareholder representatives (currently seven) on voestalpine AG’s highest governance body were re-elected. One new member was elected to the Supervisory Board: Martin Hetzer, Ph.D., President of the Institute of Science and Technology Austria (ISTA) in Klosterneuburg. Wolfgang Eder was re-elected as Chairman of the Supervisory Board at the subsequent constituent meeting.
Voestalpine Annual General Meeting approves dividend of EUR 0.70
by David Fleschen
The voestalpine Group achieved a solid result in the business year 2023/24, following record figures in the year before, in a persistently challenging environment and despite negative one-off effects. Taking into account earnings per share of EUR 0.59 in the 2023/24 business year, a dividend of EUR 0.70 per share will be distributed to shareholders. Considering the general conditions mentioned above, this results in a payout ratio of around 118% (previous year: 25%). Relative to voestalpine’s average share’s price of EUR 27.86 in the business year 2023/24, the dividend yield is 2.5%. Since its IPO in 1995, voestalpine has continuously paid dividends to its shareholders, with an average dividend yield of 3.6%.
The agenda of the Annual General Meeting also included the election of the new Supervisory Board. All previous members of the Supervisory Board of voestalpine AG were reappointed: Dr. Wolfgang Eder, long-standing Chairman of the Management Board of voestalpine AG, Dr. Heinrich Schaller, CEO of Raiffeisenlandesbank Oberösterreich AG, KR Dr. Franz Gasselsberger, MBA, CEO of Oberbank AG, Mag. Ingrid Jörg, Executive Vice President & Chief Operation Officer, Constellium Switzerland AG, Dr. Florian Khol, Attorney-at-Law, Partner at Binder Grösswang Rechtsanwälte GmbH, Mag. Maria Kubitschek, former Deputy Director of the Federal Chamber of Labour/Vienna Chamber of Labour and Prof. Elisabeth Stadler, former Chairwoman of the Management Board of Vienna Insurance Group AG (Wiener Versicherung Gruppe). The Austrian molecular biologist Martin Hetzer, Ph.D., President of the Institute of Science and Technology Austria (ISTA) in Klosterneuburg, is a new member of the Supervisory Board of voestalpine AG. The voestalpine Supervisory Board thus consists of eight elected members once again, after having seven members due to the vacancy in 2022 of the late Supervisory Board member and long-standing Chairman of the Supervisory Board of voestalpine AG, Dr. Joachim Lemppenau. Four employee representatives complete the committee.
Wolfgang Eder was also confirmed by the Supervisory Board in his role as Chairman of the Supervisory Board. He will be serving on the Supervisory Board for a further three years, until 2027, and will ensure that there is an orderly and timely handover to his successor as Chairman of the Supervisory Board before the end of his term of office. The term of office of the other elected members lasts until the 2029 Annual General Meeting.
Source and Photo: Voestalpine