With our dividend policy, we are translating our long-term business model, which is volatile in the short term in individual years, into a predictable and reliable payout: DBAG's shareholders should participate in the Company's success by receiving dividends as regularly as possible - that is one of our financial goals. We have promised to increase our dividend whenever possible. Over the past three years, we have increased the dividend in each case, most recently in 2019 from €1.40 to €1.45 per share. Our shareholders have thus achieved a dividend yield of around four percent. Our share thus stands out among the stocks of the S-Dax. The DBAG share is also attractive in terms of the dividend yield of other listed investment companies. The level of distributable retained earnings - as of September 30, 2018, before the most recent distribution, this had amounted to 167.3 million euros - will enable us to remain true to our dividend policy and at least keep the dividend stable in the coming years. We have also taken this into account in our medium-term planning.