RTTNews | Feb 25, 2021 01:18AM EST

01:17 Thursday, February 25, 2021 (RTTNews.com) - SAP SE (SAP), on Thursday, said its supervisory board has decided, in alignment with the Executive Board, to recommend that shareholders approve a dividend of 1.85 per share for fiscal year 2020. The dividend, which is scheduled to be paid on or after May 18, 2021, represents a year-over-year increase of 0.27 or 17%.

The company noted that the total amount of dividends to be distributed will be about 2.18 billion versus 2019's 1.86 billion, representing a pay-out ratio of 41%, if the shareholders approve the recommendation and if treasury shares remain at the 2020 closing level.

Luka Mucic, Chief Financial Officer, SAP SE, said, "Despite being faced with unique challenges in 2020, we delivered strong IFRS profit and a record year for cash flow. We believe our shareholders should participate in this success. Therefore, we recommend a 17% increase in dividend."

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