MRC -- BASF is taking a further step on its path to net zero and has committed to targets for Scope 3.1 emissions, said the company.
The announcement was made during an update for investors and analysts in Ludwigshafen at which Dr. Martin Brudermuller, Chairman of the Board of Executive Directors of BASF SE, and Dr. Dirk Elvermann, Chief Financial Officer, reported on progress in the implementation of the corporate strategy announced in 2018. Brudermuller and Elvermann outlined how the company is delivering on the priorities for the use of cash laid out in the strategy and also presented a new differentiated approach to steering businesses for more profitability.
BASF’s corporate strategy is based on organic growth. Between 2018 and 2022, the company allocated around 60 percent of its spending to capital expenditures and research and development.
Brudermuller emphasized the high importance of shareholder returns and an attractive dividend for BASF’s Board of Executive Directors. “BASF has increased the dividend in three of the past five years and kept it stable at the respective prior year level in 2020 and in 2022 due to the challenging framework conditions,” he said. The total dividend payout since 2018 amounts to €15.8 billion, and the average dividend yield is 5.6 percent per year. Over the last decade, BASF’s attractive dividend payouts have been supported by the company’s strong cash generation. Between 2013 and 2022, average cash flows from operating activities amounted to €7.7 billion per year and average free cash flow amounted to €3.4 billion per year.
We remind, BASF Services Europe GmbH today opened its new service Hub location in Berlin. BASF will use 15,000 square meters over eight floors in the SCALE office complex in the Prenzlauer Berg district, said the company. With around 2,800 employees, BASF Services Europe GmbH provides a wide range of business management services for BASF Group companies in Europe, the Middle East and Africa.