Handout - K+S Aktiengesellschaft

K+S Aktiengesellschaft
Dividend Policy and History
• We pursue a dividend policy that is in principle earnings-based. According to this, a dividend payout rate of between
40% and 50% of the adjusted Group earnings after taxes forms the basis for future dividend recommendations.
• For the year 2011, a dividend of € 1.30 per share (+ 30%) was paid.
• For 2012, on the basis of the described earnings expectations, there is still a chance for a higher dividend, since the
income from the divestment of K+S Nitrogen and the cessation of the adverse effects from the divestment of the
COMPO business should have a impact on Group earnings. Based on our earnings expectations, good opportunities
for a higher dividend in 2012.
Group Earnings and Payout Ratio
Dividends
%
100
90
80
70
60
50
40
30
20
10
0
Payout ratio
Target range payout ratio
Group earnings from continued operations,
adjusted (rhs)
979
582 ~630
445
161 176 175
101 104
94
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012e
Mio. € €
1.400 , 4,00 .
1.200 ,
1.000 ,
800
600
400
200
0
3,50 .
3,00 .
2,50 .
2,00 .
1,50 .
1,00 .
0,50 .
0,00 .
Dividends in €
2.40
1.30
1.00
0.45
0.50 0.50
0.33
0.20
0.25 0.25
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
€
4,00 .
3,50 .
3,00 .
2,50 .
2,00 .
1,50 .
1,00 .
0,50 .
0,00 .
January 2013 K+S Group 65