German software maker
wants to share more of its wealth with stockholders.
Walldorf, Germany-based SAP's board has recommended that shareholders boost the company's annual dividend 33% to 0.80 euros per share at their annual meeting May 6. That's up 0.20 euros from last year's 0.60 euros dividend.
Holders of SAP American depositary receipts would receive one-fourth of the 0.80 euro dividend, reflecting the makeup of their security. The dividend to ADR holders also will be dependent on the exchange rate.
The move comes about two months after SAP, the biggest maker of enterprise resource planning applications, projected software sales would grow 10% in 2004 after decreasing 6% in 2003.
Shares of SAP climbed 65 cents, or 1.7%, to $38 in recent trading.