We have a strong financial foundation and involve our shareholders adequately in the Company's success. At the same time, we will adhere to the targeted leverage factor of 1.5 to 2.5.
Dividend for the financial year 2014
The Annual General Meeting of ProSiebenSat.1 Media AG has
approved the payment of a dividend of EUR 1.60 per per common share
(previous year: EUR 1.47). This equates to a total payout of EUR
341.9 million (previous year: EUR 313.4 million)and a payout ratio
of 81.6 % based on the underlying net income of the Group and is
thus in line with the dividend policy communicated by
The effective dividend date is the date of the Annual General Meeting and, therefore, May 21, 2015. Thus, all common shareholders who own ProSiebenSat.1 shares on this date are entitled to a dividend. The dividend payment starts one working day after the Annual General Meeting.
Information regarding the taxation of the dividend
How will the dividend resolved in the AGM on May 21, 2015 (and to be paid on May 22, 2015) be taxed?
Common shares (ISIN DE000PSM7770): The dividend per registered common share is EUR 1.60. It is generally subject to withholding tax (at a rate of 25% plus solidarity surcharge of 5.5% thereon, resulting in a total tax rate of 26.375% (plus church tax, as the case may be)). In case of further queries please consult your German tax advisor.
Additional information for individual shareholders:
The information provided below does not constitute tax advice but only describes certain general principles of German taxation, which might be relevant in connection with the dividend distribution. Shareholders should seek advice from their own tax counsel regarding the tax implications of the distribution.
The below sections do only apply to individual shareholders who hold their shares as private assets. Whether such shareholders are to be considered resident taxpayers for purposes of the below summary depends upon whether they are subject to German unlimited taxation (e.g., due to their residence or usual place of abode).
The tax liability applicable to dividend payments is generally satisfied by withholding a flat tax (Abgeltungsteuer) of 25% plus solidarity surcharge of 5.5% thereon, resulting in a total tax rate of 26.375% (plus church tax, as the case may be). However, under certain circumstances no withholding will be made, e.g., if shareholders has given their bank a certificate from the German tax authorities that the shareholder is not subject to an assessment procedure (Nichtveranlagungsbescheinigung). The same applies to such shareholders who have submitted a German application for exemption (Freistellungsauftrag) from withholding tax with sufficient exemption volume that has not been used in connection with other income from capital investment.
The withholding will be made irrespective of the individual tax rate and does generally satisfy the personal income tax liability of the shareholders in respect of the dividend. However, certain exemptions apply. Shareholders may, e.g., request that a tax assessment be carried out on their income from the dividend and all other capital investments if this results in a lower tax liability (e.g., due to a lower individual tax rate, an unused lump-sum saving allowance (Sparer-Pauschbetrag) or losses that have to be taken into consideration). However, expenses actually incurred in connection with the dividend are not tax deductible within the scope of the flat rate withholding tax (Abgeltungssteuer).
Non-resident taxpayers are subject to limited taxation in Germany with respect to the dividend, i.e., the flat withholding tax (Abgeltungsteuer) does in principle also apply. As a consequence, the dividend will be subject to a withholding tax at a rate of 25% plus a solidarity surcharge of 5.5% thereon, i.e., in total 26.375%.
For dividend payments to non-resident taxpayers, a reduced withholding tax rate may apply if there is a respective double-taxation treaty in place between Germany and the country in which the shareholder resides for tax purposes. The discount, if any, is granted by crediting the difference between the withheld tax and the tax liability arising under the respective treaty. The shareholder has to file a respective request with the Federal Central Tax Office (Bundeszentralamt für Steuern, An der Küppe 1, 53225 Bonn, Germany or the German website http://www.bzst.bund.de) in compliance with certain formalities and deadlines.
If and to what extent non-resident tax payers are liable to taxes on the dividend in the country of their tax residence, is to be determined on the basis of the tax laws applicable in such country.
5 year overview
Number of shares in million1
Underlying earnings per share2
Dividend per dividend entitled common share
Dividend per dividend-entitled preference share
Payout in million3
1One single share class as of August 16, 2013 (conversion of the non-voting bearer preference shares into voting registered common shares).
2For the financial years 2009 to 2012, the basic earnings per bearer preference share
are shown. After the merger of the share classes in August 2013, the basic earnings
per registered common share are shown. The calculation is based on underlying net
3ProSiebenSat.1 Media AG 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.
4Based on the underlying net income after minorities from continuing operations for