core sector communique

Volkswagen shareholders approve dividend proposal

 

Hamburg, April 22, 2010 – The shareholders present and represented at the 50th Annual General Meeting of Volkswagen Aktiengesellschaft approved the dividend proposal for the 2009 fiscal year in Hamburg on Thursday. The recommendation of the Board of Management and the Supervisory Board to pay a dividend of €1.60 (previous year: €1.93) per ordinary share and €1.66 (previous year: €1.99) per preferred share was accepted by a majority of 99.99 percent of the votes cast. €754 million will therefore be appropriated from the net profit of Volkswagen AG for distribution. 91.10 percent of the voting capital was represented at the Annual General Meeting.

 

The resolutions on formal approval of the actions of the members of the Board of Management and of the actions of the members of the Supervisory Board for fiscal year 2009 were passed by over 99 percent of the votes cast at the Annual General Meeting. The Vice Chairman of Qatar Holding, Dr. Hussain Ali Al-Abdulla, was elected to the Supervisory Board as the successor to Roland Oetker. Furthermore, Jörg Bode, the Minister of Economic Affairs, Labor and Transport for the Federal State of Lower Saxony, was elected by the General Meeting for a full term of office as a member of the Supervisory Board.

 

In addition, the Board of Management was granted 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. At a Special Meeting of Preferred Shareholders, this authorization was passed by a majority of 92.57 percent with 28.57 percent of the voting capital represented.