Dividend and capital (TEST)

2019 dividend

Taking into account the uncertainty caused by the exceptional crisis triggered by the Covid-19 pandemic, the Board of Directors will propose to the Shareholders’ Meeting of May 19, 2020 a decrease in the 2019 dividend from 0.70 euro to 0.50 euro per share resulting in a dividend of 0.50 euros per share in respect of the 2019 fiscal year. In view of the payment on December 4, 2019 of an interim dividend of 0.30 euros, the balance of the dividend will be, subject to approval by the Shareholders’ Meeting, 0.20 euros per share and will be paid in cash on June 4, 2020. The ex - dividend date will be June 2, 2020.

For the 2020-2023 period, the objective to distribute a dividend of 0.70 euro per share will be reviewed at a later date in light of the evolving situation. The Board of directors has provided for the right to offer shareholders the option of being paid a 2020 interim dividend in Orange shares.

Dividends distribution history

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 (31/12/2017).