Annual General Meeting 2024 approves dividend of 45 cents per share and new remuneration system

NORMA Group SE held its Annual General Meeting as an in-person event in Frankfurt am Main on May 16, 2024. In total, around 79% of the registered share capital of NORMA Group SE was represented. This figure includes postal votes.

The proposal of the Supervisory Board and the Management Board to distribute a dividend of 45 cents per share was approved by the Annual General Meeting of NORMA Group with a majority of around 99.8%. The total amount distributed amounted to around EUR 14.3 million (2023: EUR 17.5 million). This results in a payout ratio of 32.7% of adjusted consolidated net income of EUR 43.9 million in fiscal year 2023. NORMA Group’s dividend strategy provides for a payout ratio of about 30% to 35% of adjusted consolidated net income.

The Annual General Meeting also approved a new remuneration system for the Management Board by a large majority, which the Supervisory Board resolved in March 2024. The system promotes sustainable value creation and the long-term success of NORMA Group. In accordance with the recommendations of the German Corporate Governance Code, remuneration is made up of fixed and variable components. Part of the variable remuneration depends on the achievement of sustainability targets, such as a reduction in CO₂ emissions in production.

At the 2024 Annual General Meeting, the shareholders also approved all other agenda items with large majorities. This also included the regular election of Mark Wilhelms, Chairman of the Supervisory Board, as a member of the Supervisory Board.

All voting results can be found in the Investor Relations section of the NORMA Group website WWW.NORMAGROUP.COM.