Share, dividend and consensus

Dividends

Dividends distribution Policy

The Shareholders' Meeting of 22 May 2024 decided on the distribution of a dividend of 0.72 euros per share for the fiscal year 2023. Taking into account the 0.30-euro interim dividend paid on 6 December 2023, the balance of the dividend distributed by Orange is 0.42 euros per share and was paid in cash on 6 June 2024.

On 23 July 2024, the Board of Directors decided on the distribution of an interim dividend of 0.30 euros per share. It will be paid in cash on 5 December 2024, with an ex-dividend date on 3 December 2024.
Orange intends, subject to shareholders’ approval, to increase its dividend to 75 cents per share for fiscal year 2024 (including the distribution of an interim dividend of 0.30 euros per share in December 2024).

Dividends distribution history

Fiscal year	Amount per share	Payment date	Means of payment
2023		Interim 0.30€ 6 Dec. 2023 Balance 0.42€ 6 June 2024	Cash

2022	0.70 €	Interim 0.30€ 7 Dec. 2022 Balance 0.40€ 7 June 2023	Cash

2021	0.70 €	Interim 0.30€ 15 Dec. 2021 Balance 0.40€ 9 June 2022	Cash

2020	0.70 € + 0.20 €	Interim 0.40€ 9 Dec. 2020 Balance 0.50€ 17 June 2021	Cash

2019	0.50 €	Interim 0.30€ 4 Dec. 2019 Balance 0.20€ 4 June 2020	Cash

2018	0.70 €	Interim 0,30€ 6 Dec. 2018 Balance 0,40€ 6 June 2018	Cash

2017	0.65 €	Interim 0,25€ 7 Dec. 2017 Balance 0,40€ 7 June 2018	Cash

2016	0.60 €	Interim 0,20€ 7 Dec. 2016 Balance 0,40€ 14 June 2017	Cash

2015	0.60 €	Interim 0,20€ 9 Dec. 2015 Balance 0,40€ 23 June 2016	Cash

2014	0.60 €	Interim 0,20€ 9 Dec. 2014 Balance 0,40€ 10 June 2015	Cash

2013	0.80 €	Interim 0,30€ 11 Dec. 2013 Balance 0,50€ 5 June 2014	Cash

2012	0.78 €	Interim 0,58€ 12 Sept. 2012 Balance 0,20€ 11 June 2013	Cash

2011	1.40 €	Interim 0,60€ 8 Sept. 2011 Balance 0,80€ 13 June 2012	Cash

2010	1.40 €	Interim 0,60€ 2 Sept. 2010 Balance 0,80€ 15 June 2011	Cash

2009	1.40 €	Interim 0,60€ 2 Sept. 2009 Balance 0,80€ 17 June 2010	Cash

Capital allocation

Institutional investors and others legal entities allocation estimate on the basis of the TPI survey (12/31/2022).

geographical allocation of investors chart

Consensus

Orange has compiled a consensus for Q224 and FY 2024 based on the 16 estimates received as of July 10th 2024.

The detailed consensus is available in the Investors Library and below.

In €m	Q224 Median	FY 2024 Median
Revenues	10,039	40,311
EBITDAaL (excluding Spain)	3,098	11,996
EBITDAaL telecom activities (excluding Spain)	3,111	12,108
eCAPEX Group (excluding Spain)	1,533	6,158
Organic cash flow - continuing operations (excluding Spain)		3,309
Free Cash Flow "all in" - continuing operations (excluding Spain)		2,656