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SAP SE / Key word(s): Share Buyback/Payout
SAP SE: SAP to Enhance Capital Return in 2020

04-Nov-2019 / 22:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

SAP to Enhance Capital Return in 2020

- Enabled by strong financial and operational performance

- EUR1.5 billion of share repurchases and/or special dividend

- To be completed by December 31, 2020

WALLDORF, Germany - November 4, 2019

In light of SAP's strong financial performance and balance sheet, the Supervisory Board of SAP SE today approved the Executive Board's plan for enhanced capital return in 2020. Under this new program, the Company is authorized to repurchase shares and/or issue a special dividend with a combined volume of EUR1.5 billion by December 31, 2020.

This enhanced capital return will be in addition to SAP's regular dividend policy of distributing at least 40% of its IFRS profit after tax. The Supervisory Board and Executive Board are confident that SAP's strategy of investment in innovation and profitable growth, together with disciplined capital return, will maximize shareholder value for the long term.

The timing and instruments of capital returns will be determined by the Company based on its evaluation of market conditions, company performance and other factors. The issuance of any special dividend is subject to shareholder approval at the AGM.

Stefan Gruber
Investor Relations
Telefon: +49 6227 7-44872

Information and Explanation of the Issuer to this News:

SAP Co-CEOs Jennifer Morgan and Christian Klein said: 'SAP's operational excellence initiatives are driving improved financial performance, and we are pleased that SAP is in a position to share this benefit with shareholders. The enhanced capital return in 2020 underscores SAP's commitment to shareholder returns and disciplined capital allocation.'

SAP CFO Luka Mucic said: 'Share buybacks and special dividends, in addition to an attractive regular dividend policy, are an important element to building shareholder value and enabling our shareholders to participate in our success.'

SAP will provide further details on its capital allocation policy, as well as its initiatives to accelerate operational excellence and value creation, at its Special Capital Markets Day in New York on November 12, 2019.

Visit the SAP News Center. Follow SAP on Twitter at @sapnews.

About SAP
As the Experience Company powered by the Intelligent Enterprise, SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world's transaction revenue touches an SAP(R) system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want - without disruption. Our end-to-end suite of applications and services enables more than 437,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit

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Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'predict,' 'should' and 'will' and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ('SEC'), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

(c) 2019 SAP SE. All rights reserved.
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Contact for financial analysts and investors:
Stefan Gruber +49 (6227) 7-44872,, CET

For more information, press only:
Marcus Winkler, +49 6227 7-67497,, CET
Rajiv Sekhri, +49 6227 7-74871,, CET
SAP News Center press room;

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04-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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