dividend history & policy.

dividend history & policy

Shareholder value is of utmost importance to us. Given our primarily organically focused Tech & Touch strategy going forward, our strong balance sheet, and favorable FCF outlook in various economic scenarios, we have adjusted our capital allocation strategy. This amendment was twofold. First, we changed our dividend policy by implementing a conditional cash floor dividend of € 1.62 per share (based on the average dividend per share (DPS) of 2014, 2015 and 2016). This baseline dividend level will be maintained even when the general 40-50% payout ratio is temporarily exceeded, barring (1) seriously adverse economic conditions, (2) material strategic changes to the sector and (3) a material deterioration in our solvency & liquidity ratios. Second, we introduced optional additional cash returns in the event of a leverage ratio below 1.0 through (1) a special dividend (preferred) or (2) share buybacks.

dividend history

year dividend payout date dividend
(€ per share)
% stock dividend
2019      
2018 total
regular
special
 
02 April 2019
02 October 2019
3.38
2.27
1.11
 
2017 total
regular
special
 
05 April 2018
27 September 2018
2.76
2.07
0.69
 
2016 07 April 2017 1.89  
2015 07 April 2016 1.68  
2014 30 April 2015 1.29 64.9%
2013 02 May 2014 0.95 66.6%
2012 24 April 2013 1.25 61.1%
2011 19 April 2012 1.25  
2010 21 April 2011 1.18  
2009      
2008      
2007 28 May 2008 1.25  
2006 29 May 2007 1.25  
2005 31 May 2006 0.84  
2004 02 June 2005 0.66  
2003 08 June 2004 0.25