Our finance strategy calls for a payout of 40 % to 60 % of net profits as dividends as a general rule. The Board of Management and the Supervisory Board will therefore propose a dividend of €1.15 per share for financial year 2018 to shareholders at the Annual General Meeting on 15 May 2019 (previous year: €1.15). The payout ratio in relation to consolidated net profit attributable to the shareholders of Deutsche Post AG amounts to 68.4%. Adjusted for one-off effects, the payout ratio is 55.4 %. The dividend yield based upon the year-end closing price for our shares is 4.8%. The dividend will be distributed on 20 May 2019 and is tax-free for shareholders resident in Germany. It does not entitle recipients to a tax refund or a tax credit.