By Giulia Petroni
SAP SE said Thursday that it will propose a dividend raise for 2020 on the back of strong IFRS profit and cash flow in the year.
The German software company said the supervisory board will recommend a dividend of 1.85 euros ($2.25) a share for 2020, a 17% increase on year.
If approved by shareholders, the total dividend distributed will be around EUR2.18 billion, equal to a payout ratio of 41%.
"Despite being faced with unique challenges in 2020, we delivered strong IFRS profit and a record year for cash flow," the company said.
SAP also said it extended the contract of chief technology officer and executive board member Juergen Mueller for three years, through the end of 2024.
The company's annual general meeting is scheduled for May 12.
Write to Giulia Petroni at email@example.com
(END) Dow Jones Newswires