dividend history & policy
Shareholder value is of utmost importance to us. Given our primarily organically focused 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 payment date | dividend (€ per share) |
% stock dividend |
---|---|---|---|
2021 total (proposed) regular special |
05 April 2022 04 October 2022 |
5.00 2.19 2.81 |
|
2020 total regular special |
06 April 2021 04 October 2021 |
3.24 1.62 1.62 |
|
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 |