Shareholders’ lobby group VEB is planning to sue KLM because dividend payouts to shareholders are too small.
‘Since 2004, KLM has been paying out a much smaller part of its profits to shareholders than its operational performance justifies,’ the VEB said in a statement.
KLM paid a dividend of €0.58 per share in 2007-2008, or 9% of profit. Other airlines paid out an average of 50% of profit, according to the VEB.
The claim is for an extra €5.64 per share, leaving KLM with a total of €264m in dividends to pay.
A KLM spokesman told Reuters the company had not yet received the lawsuit, but would not comment further.
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