2023-05-10 16:13:57
“There have never been so many annual general meetings on one day,” complains Daniel Bauer, chairman of the board of directors of the Protection Association of Investors (SdK), with a view to next Wednesday. On May 17, 30 German companies want to hold their annual general meeting, including the four Dax companies Vonovia, Eon, Fresenius and Deutsche Bank. There is already a foretaste of this this Thursday. There are not that many overall, but with Adidas, BMW, Heidelberg Materials, SAP and MTU Aero Engines there are five DAX companies that have invited their shareholders to the general meeting. How do these deadlines come about?
Such accumulations have always existed, according to the Deutsches Aktieninstitut. Every company can decide freely about the date, and there is no appointment coordination office, says a spokeswoman for the institute. The dates are sometimes set years in advance. The reason for the concentration is simple: as soon as the annual financial statements are available in the spring, many investors are pushing for the dividend to be paid out soon. But because a general meeting resolution is required for this, the dates in April and May are crowded together. Because for most companies, the fiscal year ends regularly like the calendar year at the end of December. Then the companies usually need about three months to prepare the annual financial statements, after which it often takes another four weeks until the auditors have also issued their certification.
#Dax #general #meetings #Shareholders #scheduling #conflict