Knorr-Bremse increases dividend by 13% to € 1.64

Knorr-Bremse increases dividend by 13% to € 1.64

• All agenda items approved by large majority at the Knorr-Bremse AG Annual General Meeting
• Dividend: total distribution reaches approximately € 264 million
• Payout ratio is 46% of consolidated net income

Munich, April 30, 2024 – At the Annual General Meeting of Knorr-Bremse AG today, the shareholders passed all items on the agenda with high approval rates. The shareholders also agreed to the proposal by the Executive Board and Supervisory Board to distribute a dividend of € 1.64 per share with dividend rights (161,200,000 shares) for the 2023 fiscal year. Compared with the previous year, this represents a significant 13% dividend increase. The payout ratio is approximately 46% of the consolidated net income for 2023, similar to the previous year, and is therefore consistent with the existing dividend policy of distributing 40% to 50% to shareholders.

Moreover, the shareholders agreed with around 95% to the modified remuneration system for the Executive Board, which puts an even stronger focus on the company’s profitability and earnings as well as its sustainability (ESG). Simultaneously, the modification increases the transparency of the system and reflects general developments in remuneration systems. 

The Annual General Meeting was held virtually. A total of roughly 90% of the share capital of Knorr-Bremse was represented at the Annual General Meeting.

A recording of the speeches given by the Chairman of the Supervisory Board and the members of the Executive Board, and the detailed results of the votes on the individual agenda items at the meeting will be available at www.ir.knorr-bremse.com in the near future.

Media contact: Claudia Züchner, Spokesperson Finance

Phone: +49 89 3547 2582
E-mail: claudia.zuechner@knorr-bremse.com

Investor Relations: Andreas Spitzauer, Head of Investor Relations

Phone: +49 89 3547 182310
E-mail: andreas.spitzauer@knorr-bremse.com

About Knorr-Bremse

Knorr-Bremse (ISIN: DE000KBX1006, ticker symbol: KBX) is the global market and technology leader for braking systems and a leading supplier of other rail and commercial vehicle systems. Knorr-Bremse’s products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. 33,000 employees at over 100 locations in some 30 countries develop and produce innovative solutions and services that meet the highest technological standards. In 2023, Knorr-Bremse’s two divisions together generated revenues of approximately € 7.9 billion. For almost 120 years, the company has been at the cutting edge of its industries, driving innovation in mobility and transportation technologies with a leading edge in connected system solutions. Knorr-Bremse is one of Germany’s most successful industrial companies and profits from the key global megatrends: urbanization, sustainability, digitalization, and mobility.