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Volkswagen Shareholders Greenlight Dividend Hike For 2023
Wolfsburg, 29 May 2024 – At the Annual General Meeting of Volkswagen AG, shareholders approved the Board of Management and Supervisory Board's proposal to increase the dividend. The resolution passed with a majority of 99.99 per cent, resulting in a dividend of EUR 9.00 per ordinary share and EUR 9.06 per preference share for the 2023 financial year.
This dividend increase corresponds to a payout ratio of 28 per cent, marking an increment of EUR 0.30 per share. Volkswagen AG will distribute a total of EUR 4.5 billion to its shareholders for the 2023 financial year. From 2021 to 2023, Volkswagen has paid out over EUR 22 billion to its shareholders, including a special dividend related to the Porsche IPO.
The resolution also included formal approval of the members of the Board of Management and Supervisory Board who held office in fiscal year 2023.
The Volkswagen Group is one of the world's leading car manufacturers, headquartered in Wolfsburg, Germany. It operates globally with 114 production facilities across 19 European countries and ten countries in the Americas, Asia, and Africa. The Group employs around 684,000 people worldwide.
Volkswagen's vehicles are sold in over 150 countries. The Group boasts a strong portfolio of global brands and is committed to shaping the future of mobility through investments in electric and autonomous driving vehicles, digitalisation, and sustainability.
In 2023, Volkswagen delivered a total of 9.2 million vehicles to customers globally, up from 8.3 million in 2022. The Group's sales revenue for 2023 totalled EUR 322.3 billion, compared to EUR 279.1 billion in the previous year.
The operating result before special items for 2023 amounted to EUR 22.6 billion, slightly up from EUR 22.5 billion in 2022.
Contact Information
For further details, contact Kate Thompson from Group Corporate Communications (UK) at +44 (0) 7713 265562 or via email at [email protected].
About Volkswagen Group
The Volkswagen Group is dedicated to innovation and sustainability within the automotive industry. With a focus on electric and autonomous driving technologies, the company aims to lead the future of mobility.
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