By Max Bernhard

SAP SE (SAP.XE) said late Monday that its supervisory board has authorized an extra 1.5 billion-euro ($1.7 billion) capital return to shareholders in 2020, citing the German software company's strong financial performance and balance sheet.

The company is allowed to repurchase shares and issue a special dividend with the combined volume by Dec. 31 next year, it said.

"This enhanced capital return will be in addition to SAP's regular dividend policy of distributing at least 40% of its IFRS profit after tax," SAP said.

SAP said it would provide more details on its capital-allocation policy at a capital markets day on Nov. 12.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

November 05, 2019 01:45 ET (06:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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