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Press release, Hanover, 16 May 2007 Deutsche Hypo approves one-off special dividend payment Dividend remains unchanged At the General Meeting of the Deutsche Hypothekenbank (Actien-Gesellschaft), Hanover/Berlin, which took place today in Hanover, the proposal for the appropriation of profits submitted by the Board of Managing Directors and Supervisory Board was approved. The result for the 2006 financial year was used to allocate an amount of € 20.3 million to the reserves, € 5.3 million of which was accounted for by the decision at today’s General Meeting. The remaining € 18.8 million will be used by Deutsche Hypo to pay an unchanged dividend of € 11 per unit share as well as a special dividend payment of € 3 per unit share. With this special dividend payment, which was brought about by a tax credit being activated, Deutsche Hypo wishes to immediately share with its shareholders a suitable part of this tax benefit. Change in Supervisory Board – New Chairman elected Mr Wolfgang Hollender, member of the Supervisory Board of Deutsche Hypo since 2001 and Chairman since 2005, submitted his resignation with effect from the end of today’s General Meeting. The former Chairman of the Board of Managing Directors of HSH Nordbank AG, Mr Alexander Stuhlmann, was newly elected to the Supervisory Board. Mr Stuhlmann was additionally elected as Chairman of the Supervisory Board of Deutsche Hypo at the inaugural meeting of the Supervisory Board that followed the General Meeting. Further pleasing progress to date in 2007 financial year During the first four months of this current financial year, total growth in new business has risen by over 12% to € 3.2 billion compared with the same period last year. The growth in new mortgage business was particularly pleasing, witnessing an 81% increase to over € 1 billion. At € 2.2 billion, new capital market business was only slightly down on the previous year's figure of € 2.3 billion. The operating result before tax at 30 April 2007 was € 19 million, and represented a 15% increase on the comparative value last year. All in all, income growth is developing in line with expectations. The Board of Managing Directors is therefore optimistic that as the year progresses, we will be in a position to report further satisfactory results. Changes to the composition of the Board of Managing Directors of Deutsche Hypo: Today’s Annual General Meeting marked the departure of Thomas Freiherr von Tucher, a longstanding member of the Board of Managing Directors Andreas Rehfus to join the Board of Deutsche Hypo with effect from 1 July 2007 Today’s Annual General Meeting of the Deutsche Hypothekenbank (Actien-Gesellschaft) was the last to be attended by Thomas Freiherr von Tucher, who has been a member of the Bank’s Board of Managing Directors for 18 years. Mr. von Tucher will be leaving the Bank as scheduled with effect from 30 June 2007, after reaching the upper age limit. The Supervisory Board thanked Mr. von Tucher for his contribution to the positive development of the Bank and for the successful and formative work that he undertook during his time on the Board. As stated above, Mr. von Tucher will be succeeded by Mr. Andreas Rehfus (42), who was appointed as a member of the Board of Managing Directors by the Supervisory Board in March of this year and will take up his new post with effect from 1 July 2007. Mr. Rehfus joined the Bank in 1995 and has been in charge of the Controlling unit since 1997. In 2000, he was appointed as a Director of the Bank, after which he was appointed as a Head of Unit in 2001 and as Executive Manager in 2005. Within the context of the Bank's market monitoring activities, Mr. Rehfus' departmental responsibilities will primarily encompass its Lending and Controlling divisions. In addition to Mr. Rehfus, the other two members of the Board of Managing Directors are Jürgen Grieger and Jürgen Morr, each of whom has served on the Board for many years. Mr. Grieger will be responsible for Treasury, whilst Mr. Morr will take responsibility for Real Estate Financing. For further information please contact: Markus Nitsche Head of Marketing and Sales Georgsplatz 8 30159 Hannover Telefon: +49 511 3045-580 Telefax: +49 511 3045-589 E-Mail: Markus.Nitsche@Deutsche-Hypo.de |
