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Ernst Russ AG Announces Dividend Proposal for Fiscal Year 2023

Hamburg-based Ernst Russ AG has disclosed plans to offer shareholders a one-time dividend of EUR 1.00 per share for the successful fiscal year ending in 2023. This decision follows their reported consolidated net income after minority interests of EUR 55.1 million. The Board's proposal is also based on the individual financial statement showcasing net earnings of EUR 82.1 million and a positive net income of EUR 62.7 million, a significant improvement from the previous year's EUR 4.6 million.

The unique aspect of this dividend proposal is the flexibility offered to shareholders, allowing them to receive the dividend entirely or partially in cash or shares of the company. This approach underlines Ernst Russ AG's confidence in its financial health and strategic direction. Additionally, dividends will be distributed net of taxes, using the tax deposit account, sparing shareholders from capital gains tax and the solidarity surcharge.

Further details on the share-based dividend option will be provided in a separate document, accessible from the date of the Annual General Meeting 2024 invitation notice publication. The financial community awaits the release of Ernst Russ AG's Annual Report on March 18, preceding their AGM scheduled for May 30, 2024.

R. P.

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