Volkswagen shareholders approve special dividend from Porsche IPO

Volkswagen announced: "At the Extraordinary General Meeting of Volkswagen AG, the shareholders followed the proposal of the Board of Management and Supervisory Board and approved a special distribution of EUR 19.06 per ordinary and preferred share entitled to dividend with a majority of 99,9974 percent. This corresponds to a payout ratio of 49 percent of the total gross proceeds from the value of the placement of 25 percent of the preferred shares of Dr. Ing. h.c. F. Porsche AG before implementation of the stabilization measures in connection with the IPO of Dr. Ing. h.c. F. Porsche AG and from the sale of 25 percent plus one share of the ordinary shares of Dr. Ing. h.c. F. Porsche AG to Porsche Automobil Holding SE. As part of the resolution on the special dividend, the shareholders also voted in favor of the distribution of the special dividend on January 9, 2023." Reference Link