Dividend for 2023

updated August 1st, 2024 / August 8th, 2024

For the 2023 financial year, the Executive Board and the Supervisory Board have proposed a dividend of € 2.60 per share (before update: € 0.80 per share). This proposal will be submitted to the Annual General Meeting on August 29, 2024 in Hamburg. The decision is based on the current liquidity after the dividend payment in January 2024 and the operating outlook.

The company reserves the right to adjust its proposed resolution before or at the latest at the Annual General Meeting if this should prove possible and expedient for the distribution of a higher dividend due to new circumstances, in particular the creation of further liquidity through the conclusion of loan agreements.

Tax treatment of the dividend
Of the dividend proposed for 2023, € 0.22 (before update: € 0.23) per share is expected to be subject to capital gains tax. This taxable portion could still change before the Annual General Meeting, partly due to the ongoing share buyback program.

Dividends that are paid to shareholders domiciled in Germany are subject to German income or corporation tax. Since 2009, the uniform flat-rate tax rate for private investors has been 25% plus a solidarity surcharge. Exceptions can be made under certain conditions for dividend payments that are considered equity repayments for tax purposes (distribution from EK04, or from the tax contribution account since 2001). The Deutsche EuroShop dividend meets some of these conditions. Pursuant to Art. 20, para. 1 (1) (3) of the Income Tax Act, the dividend payment represents partially non-taxable (i.e. not subject to taxation) income for shareholders. However, following the revised legislation, distributions have been taxable since 2009 as profits from the sale of shares acquired after 31 December 2008 are taxable. In this case, the dividend distributions reduce the acquisition costs of the stake in Deutsche EuroShop and therefore result in higher sales proceeds at the time of the sale.