Our finance strategy calls for paying out 40 % to 60 % of net profits as dividends as a general rule. The AGM decided a dividend of €1.35 per share for financial year 2020 to shareholders at the Annual General Meeting on 6 May 2021 (previous year: €1.15). The payout ratio in relation to consolidated net profit adjusted for significant one-off effects, amounts to 48.9 %. In relation to the consolidated net profit attributable to Deutsche Post AG shareholders, the payout ratio amounts to 56.2 %. The net dividend yield based on the year-end closing price for our shares is 3.3 %.
The financial year 2020 dividend of € 1.35 per no-par value share carrying dividend rights will generally be disbursed by the custodian banks less 25 % capital gains tax (investment income tax) and 5.5 % solidarity surcharge on the capital gains tax (total of 26.38 %) and, if applicable, church tax on the capital gains tax. The dividend was paid to shareholders by their custodian banks via Clearstream Banking AG beginning May 11, 2021.