Appropriation of net income and share buyback
The Executive Board and the Supervisory board of KUKA Aktiengesellschaft resolved on March 18, 2008 to propose to the annual general meeting of KUKA Aktiengesellschaft that it votes in favor of paying a dividend of EUR 1.00 per share from the net profit of the 2007 financial year
March 18, 2008
The dividend and amount of the dividend reflect the achieved business results and the solid balance sheet of the financial year just ended. The former IWKA AG last distributed a dividend of EUR 0.66 for fiscal 2004.
Furthermore, the Executive Board of KUKA Aktiengesellschaft resolved to exercise its right to buy back own shares as per the resolution at the annual general meeting of May 16, 2007. Up to 2,660,000 of the company's shares are to be acquired on the stock market between March 25, 2008 and August 29, 2008. The amount corresponds to up to 10 percent of current total share capital. The buyback will be carried out under the direction of Deutsche Bank, which will purchase the shares in accordance with the instructions outlined in the annual general meeting's resolution dated May 16, 2007.
The aim of the share buyback program is to optimize KUKA Aktiengesellschaft's capital structure and use of free cash flow.