Porsche Annual General Meeting 2024: Doubling Dividends and Expanding Product Range

Porsche AG held its virtual Annual General Meeting on June 7, 2024, during which significant updates were announced. The company has revealed its ambitious product launch program and a proposal to double dividends for the 2023 financial year.

Chairman of the Executive Board, Oliver Blume, praised the company's robust financial standing and highlighted the successful realization of ambitious forecasts in 2023. Blume stated that 2024 would be a landmark year with the introduction of new models across five series, marking the largest model launch in Porsche's history.

The Executive and Supervisory Boards proposed dividends of EUR 2.30 per ordinary share and EUR 2.31 per preferred share, reflecting a total payout of EUR 2.1 billion, nearly 41% of the Group's profit after tax.

Chairman of the Supervisory Board, Dr. Wolfgang Porsche, thanked the company's 42,000 employees for their dedication, which contributed to the successful financial year. Porsche delivered 320,221 vehicles in 2023, a 3.3% increase from the previous year.

The AGM agenda also includes the re-election of shareholder representatives on the Supervisory Board. Despite market uncertainties, Porsche remains optimistic about its future financial performance and long-term operational returns.