Siemens 2008 Annual Report Download - page 19

At a glance – In dialogue with our investors 13
Further information on investor relations and Siemens’ share performance is available at:
www.siemens.com/investors and www.siemens.com/governance
Energy efciency and environmental protection are major considerations for investors specializ-
ing in long-term investments. That’s why our webpages offer in-depth information on various
en vironment-related issues and other relevant non-nancial matters. Fiscal 2008 marks the
ninth successive year that Siemens has been listed on the SAM Dow Jones Sustainability Index
(see Book II, pages 14, 31).
The Siemens share
As of September 30, 2008, the capital stock of Siemens AG totaled approximately €2.7 billion,
representing some 914 million no-par value shares in registered form. Thereof outstanding
shares as of September 30, 2008 amounted to approximately 862 millions of shares. Each share
represents one vote at the Annual Shareholders’ Meeting. On September 30, 2008, Siemens shares
were listed on all German stock exchanges as well as on stock exchanges in New York, London,
Zurich and Milan. On the New York Stock Exchange, Siemens shares are traded in the form of
American Depository Receipts (ADRs), with one ADR corresponding to one Siemens share.
In recent years, we’ve consistently increased dividend payments to our shareholders. Our dividend
payout ratio has averaged slightly more than 40 percent. For scal 2008, in which we repurchased
Siemens stock worth about €4 billion, we’re proposing an unchanged dividend of €1.60. We intend
to continue pursuing an attractive dividend policy for our investors in the future.
Share buyback program
The share buyback program announced in November 2007 was rolled out on January 28, 2008,
with an initial tranche of €2 billion. By April 8, 2008, we had repurchased 24.9 million shares for
the purpose of canceling and reducing capital stock and fullling obligations arising from our
stock-based compensation program and employee stock option plan.
A second tranche of €2 billion was announced on June 6, 2008. By July 22, 2008, we had acquired
an additional 27.9 million shares, bringing the total number of repurchased shares to 52.8 mil-
lion. These two tranches were the rst steps in our share buyback program, which – with a total
volume of up to €10 billion by scal 2010 – is the most extensive in Siemens’ history.