Due to the rapid spread of the coronavirus (SARS‑CoV‑2) in Germany, BASF SE will not be able to hold its Annual Shareholders’ Meeting on April 30, 2020, at the Rosengarten Congress Center as planned, the company announced.

The health of employees, shareholders and the service providers involved takes priority, the company said.

The state of Baden-Württemberg has banned events with more than 100 participants for the time being until June 15, 2020.

As a result of the postponement of the Annual Shareholders’ Meeting, the proposed dividend can’t be paid out on May 6, 2020 as planned, per BASF.

This is subject to a corresponding resolution on the appropriation of profit by the BASF Annual Shareholders’ Meeting, according to BASF.

Depending on the progression of the virus and the measures imposed by the relevant authorities, BASF SE aims to hold the Annual Shareholders’ Meeting within the statutory period of six months after the beginning of the fiscal year (until June 30, 2020) for companies with the legal form of a Societas Europaea (SE). According to the applicable provisions of the German Stock Corporation Act, an annual shareholders’ meeting must be held as a physical event, BASF noted.