Dividends

The Group’s dividend policy aims to maintain an attractive and balanced return for shareholders, with a target payout ratio of around 50% of underlying net profit. A dividend premium is granted for shareholders who hold their shares in registered form for 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)
2024 (Ordinary part of the annual dividend)	388	147 454 887	2.65	0.26
2024 (Special interim dividend)	917	147 454 887	6.24	0.62
2023	456	147 454 887	3.10	0.31
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.