Fresenius SE & Co. KGaA Annual General Meeting: New sales and earnings records expected for 2013 - shareholders approve 20th consecutive dividend increase

(PresseBox) ( Bad Homburg, )
After setting new records for sales and earnings last year, Fresenius is expecting further increases in fiscal 2013. At the Annual General Meeting in Frankfurt today, Ulf Mark Schneider, CEO of Fresenius, confirmed the global health care group's goal of exceeding €20 billion in sales this year. Additionally, net income* is forecast to exceed €1 billion - a target that had originally been set for 2014.

Fresenius SE & Co. KGaA shareholders voted with a majority of 99.99% at the Annual General Meeting to approve the 20th consecutive dividend increase proposed by the general partner and the Supervisory Board. Shareholders will receive €1.10 per common share (2011: €0.95), a substantial 16% increase that reflects the new dividend policy of aligning growth in the dividend with the growth in earnings per share before special items. The company is hereby maintaining a payout ratio in the 20 to 25% range.

The shareholders, with a majority of 91%, approved a new Authorized Capital in the amount of €40.32 million. The previous Authorized Capital in the amount of €26.52 million was cancelled; the company had utilized part of the original authorization of €40.32 million, approved in 2011, in a capital increase in May 2012. With a majority of 99%, shareholders approved a new stock-option program and a corresponding Conditional Capital.

Shareholder majorities of 99.91% and 98.70% approved the actions of the Management and Supervisory Boards, respectively, in 2012.

At the Annual General Meeting, 73.63% of the subscribed capital was represented.

* Net income attributable to shareholders of Fresenius SE & Co. KGaA; 2013 adjusted for one-time integration costs of Fenwal, Inc.
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