Hornbach Holding AG & Co. KGaA: HORNBACH Group plans dividend increase

HORNBACH Group plans dividend increase
 

Bornheim bei Landau, May 3, 2021.
At a meeting today, the Board of Management of HORNBACH Management AG, which is the general partner of HORNBACH Holding AG & Co KGaA (ISIN: DE0006083405), decided to propose to the Supervisory Board of the latter company that, based on the preliminary as yet unaudited results for the 2020/21 financial year, the dividend should be increased by around one third to Euro 2.00 per individual share with dividend entitlement (2019/20 financial year: Euro 1.50).
 

The HORNBACH Group concluded the coronavirus-dominated 2020/21 financial year with significant sales and earnings growth. Consolidated sales rose by 15.4 % to Euro 5,456 million. Based on preliminary figures, consolidated operating earnings excluding non-operating items (adjusted EBIT) increased by more than 40% to around Euro 325 million.
 

Once the audited annual financial statements of HORNBACH Holding AG & Co. KGaA are adopted, the proposed dividend distribution is to be submitted to the Annual General Meeting for its own resolution on the appropriation of profit. The dividend of Euro 2.00 per individual share now proposed, which is subject to approval by the Supervisory Board at its meeting to adopt the financial statements on May 20, 2021 and of shareholders at the (virtual) Annual General Meeting on July 8, 2021, corresponds to a dividend yield of 2.6%. This is based on the closing price of the share (XETRA) at the end of the financial year on February 28, 2021.
 

HORNBACH will publish its complete, audited annual financial statements at its Annual Results Press Conference on May 27, 2021.