Dividend distribution policy

The Shareholders’ Meeting of 1 June 2017 decided to pay a dividend of 0.60 euros per share in respect of 2016. In view of the payment on 7 December 2016 of an interim dividend of 0.20 euros per share, the balance of the dividend to be distributed was 0.40 euros per share; it was paid in cash on 14 June 2017.

2016 dividend

The Shareholders’ Meeting of 1 June 2017 decided to pay a dividend of 0.60 euros per share in respect of 2016. In view of the payment on 7 December 2016 of an interim dividend of 0.20 euros per share, the balance of the dividend to be distributed was 0.40 euros per share; it was paid in cash on 14 June 2017.

2017 dividend

In the context of the Essentials2020 strategic plan, the Group’s objective is to maintain a minimum dividend of 0.60 euros per year until 2018, without excluding the possibility of an increase depending on adjusted EBITDA performance.

In respect of 2017, the Board of Directors will propose paying a dividend of 0.65 euros per share to the Shareholders’ Meeting. This 5 cent increase in the dividend reflects the improvement in Group profitability beginning in 2015 and clearly reaffirmed by the 2016 results. It also reflects the Group’s confidence in the continuation of this momentum and the constant search for the right balance between funding investment necessary for the development of the Group’s operations, sharing value with employees and providing returns to shareholders.

The Board of Directors of 26 July 2017 decided to pay an interim dividend for 2017 of 0.25 euros per share, which will be paid on 7 December 2017.

 

fiscal year

amount per share

payment date

means of payment

2016

0,40 €

14 june 2017

balance of dividend in cash

 

2016

0,20 €

7 december 2016

interim dividend in cash

2015

0,40 €

23 June 2016

balance of dividend in cash

2015

0,20 €

9 december 2015

interim dividend in cash

2014

0,40 €

10 June 2015

balance of dividend in cash

2014

0,20 €

9 December 2014

interim dividend in cash

2013

0,50 €

5 June 2014

balance of dividend in cash

2013

0,30 €

11 December 2013

interim dividend in cash

2012

0,20 €

11 June 2013

balance of dividend in cash

2012

0,58 €

12 September 2012

interim dividend in cash

  

Changes in share capital

During the financial year 2016, the amount of capital increased to € 10,640,226,396.


Capital allocation

 Institutional investors and others legal entities allocation estimate on the basis of the TPI survey and the Nasdaq OMX analysis (31/12/2016).