SAP pays a dividend once a year. The SAP Executive and Supervisory Boards jointly recommend the dividend amount. It is based on the SAP SE financial statements. The amount of dividend requires the shareholders’ approval and is officially decided upon at the SAP Annual General Meeting of Shareholders. Payout usually occurs on the next business day following our Annual General Meeting of Shareholders. For information about SAP's dividends policy, access the Dividends & Share Buybacks page.
Note to holders of SAP ADRs (American Depositary Receipts): One SAP ADR represents one SAP share. The final dividend is dependent upon the Euro/US-Dollar exchange rate. SAP pays cash dividends on the ordinary shares in Euro, so exchange rate fluctuations will affect the US-Dollar amounts received by holders of ADRs, depending on the foreign exchange rate at the time of the conversion of the dividend cash from Euro to US-Dollar. The final dividend payment by SAP to the depositary bank is usually scheduled for the day after the Annual General Meeting of Shareholders. The depositary bank will then convert the dividend payment from Euro into US-Dollar as promptly as practicable.
ADR investors can invest all or a portion of the cash dividends paid on SAP ADRs through our Dividend Reinvestment Program, operated in cooperation with the Deutsche Bank Trust Company Americas. Visit www.adr.db.com and click on the "DB-Direct" icon for more information about this program.