I would like a dividend of 100 euros from this top share: per quarter!

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These pages were last updated on April 18, 2017.

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Declaration in accordance with section 34b, subsection 1, WpHG and MAR as well as delegated regulation (EU) no. 2016/958 (“DelVO”) Valuation The valuation on which the investment recommendation for the company analyzed here is based is based on generally recognized and widespread methods Fundamental analysis, such as discounted cash flow (DCF) model, terminal multiple valuation, peer group comparison, “sum of the parts” model or a similar, common and widespread fundamental valuation method.

The result of this basic assessment forms the basis of the recommendation, although it is also adjusted by the analyst’s assessment of possible industry changes, alternative possible futures, company strategy results, competitive pressure, etc. The analyst’s final opinion should not be seen as the only point of the model, but rather the most likely considered outcome of the many possible future implications.

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Buy: The share price is expected to rise more than the matching index over the next 3 to 5 years. Hold: The price of the stock is expected to either rise less than the relevant index or remain stable over the next 3 to 5 years. Sell: The price of the stock is expected to decline over the next 3 to 5 years.

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