Dividend and financing
We stand by our ambitious dividend policy and offer our shareholders an attractive dividend yield. We continue to aim to increase our dividend each year, or at least maintain it at the previous year’s level.
Our ﬁnancing policy is aimed at ensuring our solvency at all times, limiting the risks associated with ﬁnancing and optimizing our cost of capital. We strive to maintain at least a solid “A” rating, which allows the BASF Group unrestricted access to money and capital markets.
From the scheduled repayment of bonds, we expect cash outflows in the equivalent amount of around €900 million in 2016. To refinance mature bonds and to optimize our maturity profile, we continue to have medium to long-term corporate bonds and our U.S. dollar commercial paper program at our disposal.