May 16, 2014
Fresenius SE & Co. KGaA Annual General Meeting: Stock split and 21st consecutive dividend increase approved
A large majority of 99.48% Fresenius SE & Co. KGaA shareholders approved a three-for-one stock split at the company's Annual General Meeting in Frankfurt today. Every shareholder will receive two additional shares for each share held. The number of shares and the subscribed capital will be tripled. The share price is expected to adjust to this split with no impact on the overall value for shareholders.
"We are taking this step to promote trading activity in our shares," said Ulf Mark Schneider, CEO of Fresenius. "Our share price has more than tripled in just the last five years. A lower share price will make Fresenius' stock more accessible to a broad group of investors."
Schneider confirmed the Group's 2017 mid-term target of approximately €30 billion in sales and net income of €1.4 to €1.5 billion, and said: "Fresenius has the capability, ambition and commitment to reach these goals. The overall business environment for our company remains positive. Demand for healthcare is increasing both in the established industrialized nations and in emerging market countries."
Shareholders voted with a majority of 99.81% to approve the 21st consecutive dividend increase proposed by the general partner and the Supervisory Board. The dividend was raised by 14% to €1.25 per share (2012: €1.10). This increase is in line with the growth in earnings per share before special items, in accordance with the new dividend policy introduced last year.
Shareholder majorities of more than 98% approved the actions of the Management and Supervisory Boards, respectively, in 2013.
At the Annual General Meeting, 74.07% of the subscribed capital was represented.
Fresenius is a global health care group, providing products and services for dialysis, hospital and outpatient medical care. In 2013, Group sales were €20.3 billion. On March 31, 2014, the Fresenius Group had 201,924 employees worldwide.
For more information visit the Company's website at www.fresenius.com.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA
Registered Office: Bad Homburg, Germany
Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Dr. Gerd Krick
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany
Commercial Register: Amtsgericht Bad Homburg, HRB 11673
Management Board: Dr. Ulf M. Schneider (Chairman), Dr. Francesco De Meo, Dr. Jürgen Götz, Mats Henriksson, Rice Powell, Stephan Sturm, Dr. Ernst Wastler
Chairman of the Supervisory Board: Dr. Gerd Krick