Siemens invites shareholders to 2024 Annual Shareholders’ Meeting

• Annual Shareholders’ Meeting to be held on February 8, 2024
• Main content of speeches to be given by Supervisory Board Chairman Jim Hagemann Snabe as well as President and CEO Roland Busch are expected to be published by no later than January 31, 2024
• Supervisory Board and Managing Board propose increasing dividend to €4.70 (fiscal 2022: €4.25)
• PwC is being proposed to 2024 Annual Shareholders’ Meeting as new independent auditors for fiscal 2024

Siemens AG has published its Notice of Annual Shareholders’ Meeting, along with the agenda of this meeting, which is to be held on February 8, 2024. Based on an authorization approved by a large majority at Siemens’ 2023 Annual Shareholders’ Meeting, the Annual Shareholders’ Meeting will again be held in a virtual format. 

“We’re looking forward to the 2024 Annual Shareholders’ Meeting and to interacting with our shareholders. After a record-breaking fiscal year, we can be very proud that our strategy is paying off. Siemens AG is making an important contribution to shaping a digital and sustainability transformation,” said Jim Hagemann Snabe, Chairman of the Supervisory Board of Siemens AG. 

“I’m very pleased that we met our raised targets in fiscal 2023 and created significant value for all our stakeholders. With the format chosen for our Annual Shareholders’ Meeting, we’re integrating all our shareholders and offering them a simple way to actively participate,” said Roland Busch, President and CEO of Siemens AG.

Dividend proposal, change to PwC as independent auditors and approval of compensation system for Managing Board members
Siemens’ Annual Shareholders’ Meeting will vote on, among other things, the dividend for fiscal 2023, which ended on September 30, 2023. In line with the company’s progressive dividend policy, the Supervisory and Managing Boards are proposing to the Annual Shareholders’ Meeting – which will take place in February 2024 – a dividend of €4.70. This figure corresponds to a clear increase of €0.45 year-over-year. Based on the company’s closing share price of €135.66 at the end of September 2023, this amount would result in an attractive dividend yield of 3.5 percent.

On the basis of its Audit Committee’s recommendation, the Supervisory Board is proposing to the Annual Shareholders’ Meeting that PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft be appointed to serve as independent auditors of the Annual Financial Statements and the Consolidated Financial Statements for fiscal 2024 and as auditors for the review of the condensed Financial Statements and the Interim Management Report for the Siemens Group for the first half of fiscal 2024. This proposal is the result of an intensive dialogue among the Supervisory Board, the Audit Committee and the Managing Board of Siemens AG and of a comprehensive tendering process in accordance with applicable European legal standards.

The agenda of the 2024 Annual Shareholders’ Meeting includes – among other things – resolving on approval of the compensation system for the Managing Board members. Such a resolution is required every four years. It is also required due to the amendments adopted by the Supervisory Board, effective October 1, 2023.

Live video connection
During the general debate at the upcoming Annual Shareholders’ Meeting, shareholders can become part of the webcast live per video to speak or ask questions. They do not need to submit their questions in advance. In addition, the main content of the speeches to be given by the Supervisory Board Chairman as well as by the President and CEO will be published online in advance of the event. This publication is expected by no later than January 31, 2024.

For more information, please see Siemens’ Notice of Annual Shareholders’ Meeting, which was published today and is available at: www.siemens.com/agm.