Volkswagen shareholders approve the actions of the board of directors and the supervisory board | 05/12/22

Frankfurt (Dow Jones) – As in previous years, Volkswagen shareholders approved the actions of members of the Board of Directors and the Supervisory Board by a large majority. The directors’ discharge accounted for more than 99 percent of the vote at Thursday’s virtual general meeting. In addition, shareholders approved a proposed dividend of €7.50 (previous year: 4.80) per common share and €7.56 (4.86) per preferred share for the 2021 fiscal year, the group announced.

Last year, despite supply bottlenecks for semiconductors and rising raw material costs, Volkswagen increased its profit more than analysts expected. The premium brands Audi and Porsche in particular, as well as the core brand VW, contributed to the high growth in profits.

The dividend and discharge decision for Volkswagen managers was almost certain during the digital public meeting once again. The majority of Volkswagen investors lack the opportunity to push their own proposals because the founding families Porsche and Beech together own the majority of the common stock. Lower Saxony also holds about 20 percent of the voting rights.

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(end) Dow Jones Newswires

May 12, 2022 at 11:34 ET (15:34 GMT)