You are here

Covestro holds first annual stockholders’ meeting

News International-French

3 May 2016

Recently materials manufacturer Covestro AG welcomed its stockholders to the first Annual Stockholders’ Meeting in the company’s history, held in Cologne.

The Board of Management and the Supervisory Board reviewed the success achieved following the company’s launch in 2015 and explained the strategy for long-term growth.

“Today’s premier marks another milestone in the history of our company,” said CEO Patrick Thomas. “Last year, we not only achieved our independence, introduced our colorful new brand and successfully listed Covestro on the stock market, we also achieved our business targets. Based on these accomplishments, we are confident that we can look forward to an even more successful future.”

Focus on profitable growth
Covestro is focusing on long-term profitable growth. The MDAX and STOXX Europe 600 listed company will be relying on innovative products and technologies to help address global challenges. At the same time, Covestro will systematically pursue sustainability and consistently work to improve its production and cost structures.

“We have continued our strong performance into the current fiscal year,” said Chief Financial Officer Frank H. Lutz, “and we want our stockholders to participate in this in the long term. We intend to maintain a consistent dividend payout ratio of 30 to 50 percent of net income.”

For fiscal 2015, the Covestro Board of Management and Supervisory Board proposed a dividend of EUR 0.70 per share to stockholders.

Photo: Covestro welcomes its shareholders to the first Annual Stockholders’ Meeting: CEO Patrick Thomas (center), CFO Frank H. Lutz (right) and Supervisory Board Chairman Dr. Richard Pott.