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HHLA AGM Approves Lower Dividend

Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK) said that the Annual General Meeting, which took place virtually due to the government regulations regarding large gatherings, approved the dividend proposal of the Supervisory Board and the Executive Board with 99.9 percent of the votes cast.

The Annual General Meeting resolved to lower the dividend to 0.70 euros per listed Class A share. This corresponds to a reduction of 12.5 percent as compared to the dividend for 2018.

The shareholders of the Port Logistics subgroup will receive a total dividend of 49.0 million euros in cash or in shares.

The shareholders accepted the proposal of the Supervisory Board and Executive Board for a scrip dividend. It gives the shareholders the option of receiving their dividend in cash or in shares.

The shareholders formally approved the actions of both the HHLA Executive Board and the Supervisory Board during the 2019 financial year with 99.6 and 99.4 percent of the votes cast, respectively.

The Annual General Meeting elected Andreas Rieckhof, State Secretary at the Ministry for Economic Affairs and Innovation of the Free and Hanseatic City of Hamburg, as new member of the Supervisory Board.

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