Our finance strategy calls for paying out 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 €1.25 per share for financial year 2019 to shareholders at the Annual General Meeting on 13 May 2020 (previous year: €1.15). The payout ratio in relation to consolidated net profit attributable to the shareholders of Deutsche Post AG amounts to 59 %. The dividend yield based on the year-end closing price for our shares is 3.7 %. The dividend will be distributed on 18 May 2020 and is tax-free in part for shareholders resident in Germany. It does not entitle recipients to a tax refund or a tax credit.