Global Founders pushes for near‑full payout of Rocket Internet’s balance‑sheet profit, testing shareholder‑return policy

Executive summary: Global Founders, a large shareholder of Rocket Internet, filed a counter‑proposal ahead of the AGM requesting a dividend that would pay out nearly the full balance‑sheet profit. The proposal signals a shift in shareholder expectations toward immediate returns, potentially constraining Rocket Internet’s ability to fund new ventures and affecting its stock price.

Who is involved: Global Founders (major shareholder), Rocket Internet’s management and supervisory board, other shareholders attending the AGM.

Likely next: The proposal will be voted on at the upcoming AGM; management may negotiate a compromise, or the vote could result in a higher‑than‑usual dividend approval.

Ahead of Rocket Internet’s annual general meeting, major shareholder Global Founders has submitted a counter‑proposal calling for the distribution of almost the entire balance‑sheet profit as a dividend. The move reflects growing pressure from investors for higher cash returns despite the company’s historically reinvestment‑focused strategy. If adopted, the payout would markedly reduce retained earnings and could influence future capital allocation decisions.