Deutsche Post AG’s current supervisory board chairman Josef Hattig announced at today’s AGM that he will be succeeded by Juergen Weber. The German mail carrier’s supervisory board will vote on the matter immediately after the conclusion of the AGM. Weber previously served as the chief executive of Deutsche Lufthansa AG.
Read MoreDeutsche Post AG said it plans to increase its dividend payout ratio to shareholders over the medium term and that it may launch a share buyback programme to improve the stock’s performance. ‘Management and shareholders are pursuing the same goals of achieving an increase in the share price and returns, and thus securing the attractiveness of the company over the long term,’ chief executive Klaus Zumwinkel said in a statement released at Deutsche Post’s AGM. ‘One option we could consider is a share buyback and we will be reviewing this.’ Deutsche Post will pay a 2005 dividend of 0.70 eur, an increase of 40 pct compared to the year-earlier period.
Read MoreA heated dispute is expected between German postal service operator Deutsche Post and trade union Ver.di over pay for employees of the company. Ver.di has demanded 4.5 per cent more pay for around 124,000 salaried staff of Deutsche Post in Germany; the company has not yet responded, but has indicated that any increase is likely to be in line with inflation rates.
Read MoreGerman postal service group Deutsche Post AG is more than interested in attracting large financial investors in its shareholders’ structure, group CEO Klaus Zumwinkel said on May 8, 2006 in an interview to a German newspaper.
Deutsche Post has a high and constant dividend yield, Zumwinkel said. The business prospects are excellent and the financial situation is more than solid, he added.
Deutsche Post is eyeing a move into the Chinese letter delivery market, board member Klaus Knappik said in a newspaper interview published Monday. “We could imagine teaming up with the Chinese post office to offer certain value-added letter delivery services. I can’t say any more than that at the current juncture,” Knappik told the daily Die Welt. Deutsche Post is already active in China via its express delivery unit DHL, which has a partnership deal with Chinese firm Sinotrans.
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