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DEUTZ pays a dividend after a successful year

During its virtual annual general meeting in Cologne, the shareholders of DEUTZ, the German off-highway diesel engine maker, approved the board of management and supervisory board’s proposal to pay a dividend of €0.15 per share for 2021.
By Guy Woodford April 29, 2022 Read time: 2 mins
DEUTZ's production plant in Cologne, Germany

Because the company intends to fund its capital expenditure predominantly from the capital at its disposal, it will revert to its fundamental policy of paying a dividend of around 30% in the future. This equates to an above-average payout of about 47% of net income, whereas no dividend had been paid for the two previous years. Around 50% of the company’s issued capital with voting rights was represented at the AGM, held on Thursday, 28 April 2022.

DEUTZ CEO Dr. Sebastian C. Schulte said: “2021 was a successful year for us, and we made significant progress. However, the EBIT margin before exceptional items of 2.3% is only a first step back in the right direction. We cannot rest on our laurels. If we are to generate further profitable growth, we must – and we will – put our foot even further to the floor.”

Dr. Dietmar Voggenreiter, who has been chairman of the supervisory board of DEUTZ since February 12 2022, added: “In 2021, DEUTZ created a strong basis for sustainable growth. The board of management team under the new CEO Sebastian Schulte will further delineate DEUTZ’s strategy and push ahead with the transformation in a profitable manner. We realise that our shareholders have clear expectations.”  

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