Find answers to the most important questions around SAP shares, our dividends, and our ADR Program for U.S. Investors.
SAP was first publicly traded on November 4, 1988, on the German Stock Exchange. The first quote was 753.06 DM (385.03 €). The SAP American Depositary Receipt (ADR) has been listed on the New York Stock Exchange since August 3, 1998.
SAP shares are listed as SAP ordinary shares through the Frankfurt Stock Exchange, the electronic system XETRA, and other German regional stock exchange centers, under the ticker symbol "SAP."
In the United States, shares are listed on the New York Stock Exchange in the form of American Depositary Receipts (ADRs). An ADR is a receipt representing ordinary or common shares of a non-U.S. company. ADRs are priced in dollars and traded on U.S. exchanges, allowing investors to buy and sell shares of non-U.S. companies in exactly the same way as they purchase or sell shares of U.S. companies. SAP ADRs, with the ticker symbol "SAP," are dollar-denominated securities backed by the shares trading in Germany. The ratio between the ADR and the underlying ordinary shares is 1:1, meaning that one SAP ADR is the equivalent of one SAP ordinary share.
SAP shares are available for purchase as SAP ordinary shares through the Frankfurt Stock Exchange, the electronic system XETRA, and other German regional stock exchange centers. Individual investors who aren't from the United States can purchase SAP ordinary shares through their custodian banks, a stockbroker, or generally any institution that offers such brokerage services.
U.S. investors can purchase SAP ADRs through a broker as they would any ordinary security. They can also buy SAP ADRs through the DB-Direct Investor Services Program, which offers investors a variety of convenient, low-cost services to make it easier to invest in ADRs. DB-Direct is administered by Deutsche Bank Trust Company Americas and allows new and existing holders to make ADR purchases, sell ADRs, and reinvest dividends. Visit www.adr.db.com and click on the "DB-Direct" icon for more information about the program.
Deutsche Bank Trust Company Americas
SAP ADR Processing Unit
c/o American Stock Transfer & Trust Company,
P.O. Box 2050,
Peck Slip Station,
New York, NY 10272-2050
Holders of SAP shares should contact SAP investor relations.
Holders of SAP ADRs with questions about stock transfer or dividend payments should contact the Deutsche Bank Trust Company Americas. Call +1-877-484-5046 or visit www.adr.db.com.
SAP ordinary shares are no-par shares by resolution of the Annual General Meeting of Shareholders of June 16, 1998.
SAP pays a dividend once a year. The SAP Executive and Supervisory Boards jointly recommend the dividend amount. It is based on the SAP SE financial statements. The amount of dividend requires the shareholders’ approval and is officially decided upon at the SAP Annual General Meeting of Shareholders. Payout usually occurs on the next business day following our Annual General Meeting of Shareholders. For information about SAP's dividends policy, access the Dividends & Share Buybacks page.
Note to holders of SAP ADRs (American Depositary Receipts): One SAP ADR represents one SAP share. The final dividend is dependent upon the Euro/US-Dollar exchange rate. SAP pays cash dividends on the ordinary shares in Euro, so exchange rate fluctuations will affect the US-Dollar amounts received by holders of ADRs, depending on the foreign exchange rate at the time of the conversion of the dividend cash from Euro to US-Dollar. The final dividend payment by SAP to the depositary bank is usually scheduled for the day after the Annual General Meeting of Shareholders. The depositary bank will then convert the dividend payment from Euro into US-Dollar as promptly as practicable.
ADR investors can invest all or a portion of the cash dividends paid on SAP ADRs through our Dividend Reinvestment Program, operated in cooperation with the Deutsche Bank Trust Company Americas. Visit www.adr.db.com and click on the "DB-Direct" icon for more information about this program.
The first trading day of SAP preference shares was August 6, 1990. By resolution of the Annual General Meeting of Shareholders on May 3, 2001, and entry into the German commercial register on June 18, 2001, all preference shares were transformed into ordinary shares. For more information, access the press release "SAP to Simplify Share Structure".