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Shareholders continuously participate in SAP's success

We want our shareholders to share greatly in this success, therefore our dividend policy is to pay a dividend totaling 40% or more of profit after tax.

We have proposed the dividend 2019 be increased by 5% to €1.58 per share (2018: €1.50).

Dividends are remitted without delay after the resolution on the appropriation of retained earnings, usually on the third businessday 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 2019 dividend is pending approval of the Annual General Meeting on May 20, 2020.

Share Buyback


SAP decided on a share buyback of up to €500 million in 2017. The program was completed at the end of the fourth quarter 2017.


The share buyback program will be carried out by mandating a financial institution which will make its trading decisions independently of and without any influence from SAP SE. The financial institution will be obligated not to purchase a number of shares for SAP under the buyback mandate on any exchange on any trading day greater than 25% of the average daily volume of the shares traded on that exchange in the 20 trading days preceding such day. It will further be obligated not to purchase any shares on an exchange at a price higher than the higher of the price of the last independent trade on that exchange and the highest current independent bid on that exchange. The share buyback program can be terminated, suspended or resumed at any time to the extent required and legally permissible.

On April 8, 2020, we announced the successful completion of the share buyback program in the first quarter of 2020, totalling approximately €1.5 billion. SAP bought back 14,070,538 shares at an average price of approximately €106.04 between February 20 and March 19, 2020. SAP does not plan to conduct further share buybacks in 2020.

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