Our finance strategy calls for a payout of 40 % to 60 % of net profits as dividends as a general rule. The Board of Management and the Supervisory Board will therefore propose a dividend of €1.15 per share for financial year 2017 to shareholders at the Annual General Meeting on 24 April 2018 (previous year: €1.05). Expressed in terms of net profit, which is defined as the consolidated net profit for the period after the deduction of non-controlling interests, the distribution ratio is 51.9 %. The net dividend yield based on the year-end closing price for our shares is 2.9 %. The dividend will be distributed on 27 April 2018 and is tax-free for shareholders resident in Germany. It does not entitle recipients to a tax refund or a tax credit.