BayWa AG Announces Proposal to Suspend Dividend for Financial Year 2023

BayWa AG's Board of Management has decided to propose the suspension of its dividend payment for the financial year 2023 to the Annual General Meeting scheduled for 11 June 2024. This move marks a significant shift from the previous year, where the company issued a regular dividend of €1.10 and an additional special anniversary dividend of €0.10 per share. The decision to withhold the dividend is attributed to the considerable negative effects of interest burden and tax rate on the consolidated net result, despite recording satisfactory operating performance. The proposed suspension is aimed at bolstering the company’s equity base. BayWa AG intends to publish its financial results for the year 2023 on 28 March 2024, offering further insights into its fiscal health and performance.