To enable its shareholders to share in the Company's success, SAP has paid a dividend every year since the stock was floated in 1988. The SAP Executive and Supervisory Boards jointly recommend the dividend. It is based on the German statutory annual financial statements of SAP AG and requires the shareholders' approval by resolution of the SAP Annual General Meeting of Shareholders. Dividends are remitted without delay after the resolution on the appropriation of retained earnings, usually on the business day after the Annual General Meeting. All shareholders possessing SAP certificates at the time of the resolution on the appropriation of retained earnings are entitled to receive payment of the dividend. The recommended dividend for FY 2011 includes a a special dividend of €0.35 per share to celebrate our 40th anniversary.

Dividends for SAP ordinary shares without tax credit in €, paid for the respective fiscal year: