Dividends

The Group’s dividend policy is aimed at securing long-term shareholder loyalty through a regular increase in the dividend, a dividend payout ratio of around 50% of underlying net profit, and a dividend premium for shareholders who have held their shares in registered form for a continuous period of at least four years.

Fiscal Year	Total dividend payout including bonus dividend (in million euros)	Number of shares eligible for dividends	Dividend / share (in euros)	Dividend premium / share (in euros)
2022	356	147,454,887	2.40	0.24
2021	297	147,454,887	2.00	0.20
2020	0	0	0*	0*
2019	425	147,454,887	2.90	0.29
2018	402.5	147,454,887	2.75	0.275
2017	410.7	150,830,449	2.75	0.275
2016	359.3	153,741,139	2.40	0.24
2015	335	157,132,025	2.20	0.22
2014	275.4	157,132,025	1.80	0.18
2013	247.4	157,132,025	1.62	1.16
2012	240.1	157,132,025	1.59	N/A
2011	221.1	157,132,025	1.46	N/A

 

* To protect the balance sheet given the severity of the Covid-19 downturn in activity, and the uncertainty as to the timing of recovery, and in solidarity with the teams, the Board has decided not to propose a dividend for Fiscal 2020 even if the Underlying net profit was positive.