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Bayer Proposes Unchanged Dividend; To Become Carbon-neutral By 2030

Bayer AG's (BAYZF.PK,BAYRY.PK,BYR.L) Board of Management and Supervisory Board, at the company's virtual Annual Stockholders' Meeting, proposed an unchanged dividend of 2.80 euros per share.

Further, CEO Werner Baumann said the company has set itself new sustainability targets, and decided to become a 100 percent carbon-neutral company by 2030.

Amid COVID-19, Bayer said it has donated large quantities of chloroquine to numerous countries, including China, Italy, the United States and Germany. Till now, results from clinical trials did not indicate a positive benefit-risk profile for chloroquine in the treatment of COVID-19.

Should a benefit in the treatment of COVID-19 be scientifically proven, it could be used globally, and Bayer said it would produce the medicine entirely for the public good and supply it to governments free of charge.

Bayer has also provided testing devices that are being used to perform thousands of additional coronavirus tests in Germany every day.

Further, Bayer noted that Norbert Winkeljohann, a Board member since May 2018, will take over as Chairman of the Supervisory Board. He succeeds Werner Wenning, who will step down at the end of the Annual Stockholders' Meeting. Wenning has been with the company for 54 years, with over 20 years of service on the Board of Management and Supervisory Board.

The company added that its stockholders will also vote on a revised compensation system for members of the Board of Management. Under the new system, 20 percent of the long-term variable compensation will be linked to the attainment of sustainability goals starting next year.

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