Dividends and financing
- Annual year-on-year dividend increase targeted
- Aim to maintain a minimum rating of a solid A
- Flexible use of attractive capital market conditions; continued issue of medium to long-term bonds and use of commercial paper program
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.
We will continue to adhere to our financing principles in 2013. Our goals are securing liquidity at all times, limiting the risks associated with financing and optimizing our cost of capital. We aim to maintain at least a solid A rating.
Cash outflows are expected to result from the scheduled repayment of bonds with a total volume equivalent to around €1,450 million. To refinance mature bonds and to optimize our maturity profile, we will continue to issue medium to long-term corporate bonds and make use of our commercial paper program. Our access to the capital markets allows us to benefit from attractive conditions for flexible financing for the BASF Group.