Südzucker AG

Notice of Dividend Amount • May 30, 2001

News Details

Ad-hoc | 30 May 2001 08:44

Südzucker AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Südzucker: highest dividend since foundation – full pay out of EK40 – dividend yield rises to 12 % It is planned to propose Südzuckers’ general meeting on August 23, 2001 a dividend distribution of 0.34 EUR per ordinary share and 0.38 EUR per preference share and an additional special dividend of 1.00 EUR per share. Having already payed out equity burdened with a 45% tax rate (EK45) in the last year, this year will see a full pay out of equity burdened with a 40% rate (EK40). Calculating todays share prices the dividend yield including tax credit for shareholders subject to tax in Germany rises to about 12%. This second special dividend (after last year’s) on the one hand will pay out Südzucker’s realized tax credit of 31 million EUR to the shareholders. On the other hand this special dividend for the last time will lead to an additional tax credit (3/7 of dividends) for shareholders subject to tax in Germany, amounting to 0.57 EUR per ordinary share and 0.59 EUR per preference share. From the new business year 2001/02 on a new tax legislation (“Half-income- system”) will be applicable. Accordingly, for small shareholdings and for tax payers with a low tax rate the new tax legislation for dividends is disadvantageous. The additional tax credit would vanish with the implementation of the new “Half-income-system”. Calculating todays share prices the dividend yield including tax credit for shareholders subject to tax in Germany rises to about 12%. The proposal of a dividend distribution with a normal dividend of 50 million EUR and a special dividend of 143 million EUR increases the already in the last year improved dividend from 120 million EUR to now 193 million EUR. Total distribution including tax credits amounts to 276 million EUR. The distribution of the special dividend (1.00 EUR per share) is intended to be reinvested in the company (distribution and reinvestment) by means of a capital increase to finance further growth of the group. Südzucker once again takes the opportunity of a changed taxation to pay a special dividend and to follow a shareholder friendly distribution policy. end of ad hoc announcement (c) DGAP 30.05.2001 ——————————————————————————– WKN: 729700; Index: MDAX Listed: Amtlicher Handel in Berlin, Düsseldorf, Frankfurt, Hamburg, München und Stuttgart; Freiverkehr in Hannover 300844 Mai 01