STRATEC Announces Dividend Proposal for 2023 Fiscal Year

STRATEC SE has made an announcement regarding its plan to propose a dividend of €0.55 per share for the fiscal year 2023. This proposed distribution amount marks a decrease from the previous year's dividend of €0.97 per share. The decision is set to be presented for approval at the Annual General Meeting scheduled for May 17, 2024. STRATEC's board attributes this adjustment to a strategic focus on leveraging upcoming growth opportunities while managing the financing requirements for internal and potential external expansions.

The company also referenced its recent acquisition of Natech Plastics, Inc., which impacted its financial strategy and necessitated a recalibration of its dividend payout. Despite the reduced dividend proposal, STRATEC reaffirms its commitment to maintaining a dividend policy that reflects a distribution quota of 40% to 60% of adjusted consolidated net income, aligning with its positive outlook on medium to long-term growth prospects.

Preliminary financial results indicate that STRATEC has met its financial guidance for 2023, with constant-currency consolidated sales slightly below the previous year and an adjusted EBIT margin within the forecasted range of 10.0% to 12.0%. Detailed outcomes for 2023 and projections for 2024 will be unveiled on March 28, 2024, keeping stakeholders informed on the company's performance and strategic directions.