SAP SE's supervisory and executive boards recommended a 12% increase in the company's annual dividend for fiscal 2017 to €1.40 per share from €1.25 per share in the previous year.

The fiscal 2017 dividend will be paid on or after May 22 and is contingent to shareholder approval at the annual general meeting.

SAP also changed its dividend policy to distribute 40% or more of profits after tax to shareholders compared to the previous 35%.