PVI : Very large majority for all proposed resolutions at virtual Annual General Meeting

Very large majority for all proposed resolutions at virtual Annual General Meeting

• 12:00
• Wednesday, 26/06/2024

• Dividend increase of 35 cents to EUR 2.35 resolved
• Talanx Group makes strong start to the year with quarterly net income of EUR 572 million

Talanx AG's General Meeting approved all resolutions proposed by the Board of Management and Supervisory Board, including the proposal on the appropriation of the distributable profit, by a very large majority. Shareholders voted to increase the dividend per share by 35 cents (roughly 18 percent) to EUR 2.35.

This means the Talanx Group's dividend has risen by 75 cents from EUR 1.60 over the past two years, an increase of 47 percent. Talanx has either lifted its dividend or at the least kept it stable every year since the Company went public. The dividend yield is 4.4 percent, based on the average share price in 2023 of EUR 53.45. The goal is to distribute a dividend of EUR 2.50 for financial year 2024, assuming that business goes according to plan.

Speaking to the General Meeting, Torsten Leue, Chairman of Talanx AG's Board of Management, emphasized the Talanx Group's extremely strong performance in the past financial year: "We proved yet again in 2023 that our focused and ambitious strategy is a success. We are growing sustainably and profitably in the interests of our business partners, customers, shareholders and employees. We generated record Group net income while also enhancing our resilience despite macroeconomic and geopolitical challenges. This demonstrates the high quality of our earnings. What is more, we have made a strong start to the year in 2024, lifting our quarterly net income by 35 percent year-on-year to EUR 572 million. This has increased our confidence that we can clearly exceed our Group net income target of more than EUR 1.7 billion."

Talanx AG's General Meeting was held virtually for the fifth time in a row. Shareholders were able to submit questions online during the meeting in direct dialogue with the Board of Management and Supervisory Board. A total of 2,915 shareholders registered for the General Meeting. This corresponded to 92.14 percent of the Company's voting share capital.

Talanx AG's next General Meeting is scheduled to take place on 8 May 2025.

Source: Talanx