Investor Relations
Development in the stock market
The development in the stock market during the first six months of the current financial year unfolded in two parts. Influenced by the financial and economic crisis, all the leading indices showed negative development in the first quarter. However, at the beginning of the second quarter signs began to emerge that the bottom of the crisis had been reached and that the global economy could possibly return to a pattern of growth – a development to which the stock exchanges reacted positively. By the end of the second quarter the losses of the first quarter have almost been eradicated. On June 3o, 2009 the Dow Jones Industrial Average stood at 7% lower than its level at the start of the year, the DAX 3% lower and the MDAX, on which the MLP share is listed, recovered to its level of the beginning of the year. The financial stocks performed better than the overall market. At the end of the first half-year of 2009 the DAXsector Financial Services stood 2% higher than at the end of last year.
MLP-Share, MDAX and DAXsector Financial Services in the first half year 2009
The MLP share
As an independent financial services and wealth management consulting company, MLP is not directly affected by the crisis on the financial markets. However the MLP share was unable to escape the negative market trend at the beginning of the year. After starting the year at € 9.91, the MLP share price fell as low as € 5.25 by the beginning of the second quarter. The share price then recovered during the course of the second quarter and stood at € 8.65 at the end of the half-year.
MLP Annual General Meeting 2009 and dividend
The MLP Annual General Meeting took place on June 16, 2009 at the Rosengarten Congress Center in Mannheim, Germany. Around 900 shareholders attended the meeting and represented 76% of the share capital. In addition to discharging the Executive Board and the Supervisory Board, our shareholders approved all of the agenda items by a large majority.
The proposal by the Executive Board and the Supervisory Board regarding the payment of a dividend of 28 cents per share was passed by the shareholders with a majority of almost 100%. In total, MLP distributed € 30.2 million to its shareholders. The distribution ratio thus amounts to almost 100% of the net profit of continuing operations in the financial year 2008. As in the previous year, MLP AG shareholders can receive the dividend distribution tax-free. This results from the changed tax treatment of the incorporation of MLP AG subsidiaries into MLP AG and their subsequent sale and applies subject to final confirmation from the tax authorities.
Further information concerning the Annual General Meeting can be accessed by visiting the Investor Relations section of the MLP AG website (www.mlp-ag.de).