Siemens 2011 Annual Report Download - page 121

153 D. Consolidated Financial Statements 273 E. Additional information

and reinvested the dividends in additional Siemens shares
would have increased to €, by the end of fiscal . This
annual return of .% is clearly above the corresponding re-
sults for the DAX  (a loss of .%) and MSCI World (a loss of
.%). The strength of the Siemens share becomes even more
apparent when the comparison is extended to include the last
ten years: the assets of an investor who purchased Siemens
stock worth €, at the beginning of fiscal  and rein-
vested the dividends in additional Siemens shares would have
increased to €, by the end of fiscal . This annual re-
turn of .% even more clearly outperformed the DAX  (.%)
and MSCI World (.%).
A.4.2 Proposed dividend increase
At the Annual Shareholders’ Meeting, the Managing Board
and the Supervisory Board will propose a dividend payment of
€., an increase of €. per share. After the very large divi-
dend increase in fiscal , this proposal reflects our earn-
ings position in fiscal  and is in strict accordance with our
payout policy. Representing a payout ratio of %, this proposal
continues our tradition of paying attractive dividends to our
investors.
A.4.3 Shareholder structure
With some , shareholders, Siemens AG is one of the
world’s largest publicly owned companies. An analysis of our
shareholder structure conducted in August  showed that
shareholders in Germany hold the largest percentage of our
share capital, about % of all outstanding shares. Sharehold-
ers in the U.S. hold roughly % and shareholders in the U.K.,
around %, while investors in Switzerland and France hold
% and %, respectively.
Some % of Siemens’ outstanding shares are currently held
by institutional investors, about % by private shareholders
and around % by members of the Siemens family.
Dividend
Fiscal year FY 2011 FY 2010 FY 2009 FY 2008 FY 2007
Dividend per share (in €) 3.0012.70 1.60 1.60 1.60
Dividend yield (in %)
4.4 3.5 2.4 3.6 1.9
Ex-dividend date Jan. 25, 2012 Jan. 26, 2011 Jan. 27, 2010 Jan. 28, 2009 Jan. 25, 2008
Net income (in millions of €) 6,321 4,068 2,497 5,886 4,038
Total dividend payout (in millions of €) 2,62332,349 1,388 1,380 1,462
Payout ratio (in %)
41 58 56 23 36
1 To be proposed to the Annual Shareholders’ Meeting
2 Dividend payout / Siemens share price on day of Annual Shareholders’ Meeting; for fiscal 2011: dividend payout / Siemens share price at fiscal year-end
3 Based on currently estimated number of shares entitled to dividend payment
4 Excluding non-cash items in fiscal 2009 and fiscal 2010 (NSN and DX impairment charges), the payout ratio equaled 34% in fiscal 2009 and 46% in fiscal 2010
Regional distribution of investors
Switzerland: %
Germany: %
U.S.: % U.K.: %
Rest of Europe: %
Rest of world: %
Unidentified: %
France: %
Type of investor
1 This figure includes a shareholding of 5.01% by BlackRock Inc., New York, U.S.,
as reported to us by the company
2 This figure includes a shareholding of 1.25% for which the von Siemens-Vermögens-
verwaltung GmbH exercises voting rights under powers of attorney and a 3.03%
shareholding by the Werner von Siemens Stiftung in Zug, Switzerland, as reported
to us by the Stiftung
Unidentified
investors: %
Institutional
investors: %

Private
investors: %
Others: %
Siemens family
members: % 