ZEAL Network SE, Germany’s leading online provider of state-licensed lottery products, has confirmed the approval of a dividend distribution of €17.6m following its Annual General Meeting in Hamburg this week.
The gathering, which saw an overall attendance of around 70%of voting capital, saw a large majority of the management’s proposed resolutions on all agenda items adopted. These included approving the actions of the Management Board and the Supervisory Board as well as the appointment of auditors.
Additionally, the agenda included the resolution on the appropriation of the balance sheet profit as well as the proposed total distribution of €17.6m (2018: EUR 8.4m) to today’s AGM which corresponds to a dividend of €0.80 per share for the fiscal year 2019 (2018: EUR 1.00).
Moreover, it was also revealed that the management board and the supervisory board intend to propose an annually increasing dividend to shareholders in the following years. This move would depend on the economic development of the ZEAL Group. However, the board aims to reach €1.00 per share in 2022.
The general meeting also saw Frank Strauß elected as a member of the supervisory board after Chairman Andreas de Maizière, who had supported ZEAL in the course of the combination with Lotto24, resigned from his office. Deputy chairman of the Supervisory Board Peter Steiner is now set to replace the industry veteran.
CEO Dr Helmut Beckercommented: “We would like to thank Andreas de Maizière for his high commitment as well as the great support during the last year and wish him all the best both personally and professionally. We also congratulate Frank Strauß on his election to the Supervisory Board. We are pleased to have won such an experienced manager as a Supervisory Board member for ZEAL.”
