Half-Year Report 2021

18 Total Equity

Development of the Subscribed Capital

in €




As of Jan. 1, 2021


Capital increase against non-cash contributions on May 17, 2021 (scrip dividend)


As of June 30, 2021




Development of the Capital Reserves

in €




As of Jan. 1, 2021


Premium from capital increase for scrip dividend on May 17, 2021


Transaction costs on the issue of new shares (after allowing for deferred taxes)


Other changes not affecting net income


As of Jun. 30, 2021





The Annual General Meeting held on April 16, 2021, resolved to pay a dividend for the 2020 fiscal year in the amount of € 1.69 per share, € 956.3 million in total.

As in previous years, shareholders were offered the option of choosing between being paid the dividend in cash or being granted new shares. During the subscription period, shareholders holding a total of 49.18% of the shares carrying dividend rights opted for the scrip dividend instead of the cash dividend. As a result, 9,370,028 new shares were issued using the company’s authorized capital pursuant to Section 5b of the Articles of Association (“2018 authorized capital”) at a subscription price of € 50.193, i.e., a total amount of € 470,309,815.40. The total amount of the dividend distributed in cash therefore came to € 486,039,719.91.

Authorized Capital

After being used in connection with the capital increase in 2021, the 2018 authorized capital fell by € 9,370,028.00 from € 194,741,048.00 to € 185,371,020.00 as of June 30, 2021. Shareholder subscription rights for the 2018 authorized capital can be excluded.