The group will pay a dividend of €1.60 per ordinary share and €1.66 per preferred share. Both values are smaller than the ones paid for the 2008 fiscal year, when an ordinary share was paid €1.93 and a preferred share €1.99.
The approval of the dividend with an overwhelming majority (99.99 percent of votes), means €754 million will be appropriated from the net profit of Volkswagen for distribution.
In addition to the approval of dividend, the shareholder meeting also appointed Hussain Ali Al-Abdulla, vice-chairman of Qatar Holding, as the successor to Roland Oetker. Jorg Bode, minister of Economic Affairs, Labor and Transport for the Federal State of Lower Saxony, was elected for a full term of office as a member of the Supervisory Board.
The shareholders granted the board of management a global authorization to issue bearer bonds with warrants and/or bearer convertible bonds in the total amount of up to €5 billion with a maximum term of 20 years on one or several occasions in the period up to April 21, 2015.
The actions approved by the shareholders come just after Volkswagen announced the first-quarter profit almost doubled. VW had a net income of 473 million euros, up from the 243 million euros reported last year for Q1.
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