In the period under review, we paid a dividend of €1.40 per share in respect of fiscal 2005/2006. For fiscal 2006/2007, the Board of Directors and the Supervisory Board will be proposing to the Annual General Meeting a dividend of €2.73 per share. This represents a dividend increase of 95% and a dividend yield (Glossary)  of 4.71% based on the financial year-end share price.

The proposal is in line with the dividend policy announced by Wincor Nixdorf AG prior to the company’s initial public offering in 2004. According to this policy, around half of the cash net income (profit for the period before profit charges arising from the carve-out (Glossary)  from Siemens) generated by the Group over the course of a fiscal year is to be paid as a dividend. In the fiscal year just ended, this corresponds to €1.83 (2005/2006: €1.40, having accounted for the stock split) of the total dividend payment planned by the company. Thus, the comparable dividend per share will rise by around 31 percent year on year.

Beyond this, the above-mentioned dividend proposal of €2.73 includes an extra dividend of €0.90 per share. This amount represents the full distribution of funds held within the tax reserve account, which has thus been made available to shareholders. Within this context, the conclusion of a profit and loss transfer agreement between Wincor Nixdorf AG and Wincor Nixdorf International GmbH is now considered appropriate; the latter will also be put to the vote at the Annual General Meeting.

Development of Dividend.                                                                                                 in €