ProSiebenSat.1 is focusing on expanding the Group's position as one of the leading, digital media companies in the German-speaking region on the basis of a solid financial position. Against this backdrop, ProSiebenSat.1 is adjusted its dividend policy on April 27, 2023: Besides the general economic environment and the adjusted net income as reference basis for distributions to shareholders, the Group from now takes into particular focus an appropriate level of financial leverage when determining distributions to shareholders. Furthermore, ProSiebenSat.1 also takes into account requirements for investments into the business, including the realization of strategic growth opportunities, particularly in the Entertainment core business.
Reference basis for dividend payments remains the Group’s adjusted net income. In the future, the Group will generally aim to pay out 25% to 50% of adjusted net income (previously: 50%), taking into account the aforementioned criteria. For the time being, the upper end of our financial leverage target corridor of 1.5x to 2.5x will serve as a benchmark for maintaining an appropriate level of financial leverage (ratio of the Group’s net financial debt to its LTM adjusted EBITDA). However, important strategic investments may lead to a temporary adjustment of the target corridor.
Considering the above adjusted criteria for distributions to shareholders and in light of the – due to the Russia/Ukraine war and the related general economic environment – expected burdened business development of the Company, the Executive Board and Supervisory Board propose to the 2023 Annual General Meeting to pay out a significantly reduced dividend of EUR 0.05 per share to the holders entitled to dividends for fiscal year 2022 (previous year: EUR 0.80). This corresponds to an expected total distribution of around EUR 11 million.
This reduced proposal takes in particular into account that – as per the outlook of the Company for fiscal 2023 – the financial leverage ratio for the Group at the end of full-year 2023 is expected above the upper end of the target corridor.
Payment of the proposed dividend is subject to approval by the Annual General Meeting on June 30, 2023.
The effective dividend date is the date of the Annual General Meeting. Thus, all common shareholders who own ProSiebenSat.1 shares on this date are entitled to a dividend.
|
04/27/2023 |
Dividend proposal (Annual Press Conference) |
|
06/30/2023 |
Dividend resolution (Annual General Meeting) |
|
07/03/2023 |
Ex-dividend quotation |
|
07/05/2023 |
Dividend pay-out |
In Euro |
2021 |
2020 |
2019 |
2018 | 2017 |
|---|---|---|---|---|---|
|
IFRS |
IFRS |
IFRS |
IFRS |
IFRS |
|
|
Number of shares in million1 |
233.0 |
233.0 |
233.0 |
233.0 |
233.0 |
|
Adjusted earnings per share3 |
1.60 |
0.98 |
1.71 |
2.36 |
2.402 |
|
Dividend per dividend entitled common share |
0.80 |
0.49 |
0.04 |
1.19 |
1.93 |
|
Payout in million4 |
181 |
111 |
04 |
269 |
442 |
|
Payout ratio |
50% |
50% |
04 |
~50% |
80.3% |
|
Ex-dividend date |
05/06/2022 |
06/02/2021 |
- |
06/13/2019 |
05/17/2018 |
1 The share capital of ProSiebenSat.1 Media SE amounts to EUR 233,000,000.00. As a result of a capital increase, it rose from EUR 218,797,200.00 to a nominal amount of EUR 233,000,000.00 with effect from November 7, 2016. In this capital increase, ProSiebenSat.1 made partial use of the company’s Authorized Capital and issued 14,202,800 new, registered shares. On 08/16/2013, the 109,398,600 bearer
preference shares that existed at that time had already been converted into registered common shares, with the effect that the share capital then totaling EUR 218,797,200.00 consisted of 218,797,200 registered common shares with a nominal share in the share capital of EUR 1.00 each. Today, all (233,000,000) of the company’s registered common shares are now tradable, i.e. both the formerly unlisted registered
common shares and the registered common shares resulting from the conversion of the bearer preference shares. Until 08/16/2013, only the bearer preference shares of the company were publicly traded.
2 For the financial year 2017, basic earnings per share were detemined on the basis of adjusted net income from continuing operations. For reason of comparison, the previous year's figure 2016 has been adjusted accordingly (previously: EUR 2.37). Further infomation on reporting and accounting policies is contained in the Strategy and Management System section of the Annual Report.
ProSiebenSat.1 Media SE held at the time of the Annual General Meeting preference shares as treasury stock. Shares directly or indirectly owned by the company are in accordance to § 71b AktG not entitled to receive a dividend.
3 Underlying earnings per share renamed as adjusted earnings per share since January 1, 2018
4 At the Annual General Meeting on June 10, 2020, the shareholders of ProSiebenSat.1 Media SE agreed to the Executive Board's and Supervisory Board's proposal to carry forward the full amount of the balance sheet profits of financial year 2019 to the new accounting period. This measure was part of stringent financial management in an evirinment affected by COVID-19. The Group thus secured additional liquidity of EUR 192 million, which was originally earmarked for the dividend distribution
- Change-1.55 %
- Volume (shares)261,265
