Dividends

Policy on profit appropriation

It is the policy of the Board of Directors to propose a profit appropriation to the General Meeting of Shareholders which, insofar as the profit permits, provides a stable or growing dividend while maintaining an adequate level of cash flow in the company for investment and self-financing in order to support growth. In practice, this means that the company seeks to maintain a pay-out ratio of around 40% of the result for the period attributable to the Group over the longer term.

Proposed appropriation of NV Bekaert SA 2010 result

In light of the Group’s strong performance in 2010 and its confidence in the future, the Board of Directors will propose that the General Meeting of Shareholders to be held on 11 May 2011 approve the distribution of a gross dividend of € 1.00 per share. If this proposal is accepted, the net dividend per share will be € 0.750, and the net dividend on shares with VVPR strip, reducing the withholding tax to 15%, will be € 0.850 per share. Together with the gross intermediate dividend of € 0.667 per share paid in October 2010, this will result in an aggregate gross dividend of € 1.667 per share for 2010. 

Payment will be made at the offices of the following financial institutions:

-   BNP Paribas Fortis (Principal Paying Agent), ING Belgium, Bank Degroof, KBC Bank, Dexia Bank in Belgium;
-   Société Générale in France;
-   ABN AMRO Bank in The Netherlands;
-   UBS in Switzerland.

Record date:     17 May 2011
Ex date:           13 May 2011
Payment date:  18 May 2011

Interim dividend October

Per share

in €	2006	2007	2008	2009	2010	2011
Per share
Intermediate dividend October					0.67	0.67
Dividend May	0.83	0.92	0.93	0.98	1.00
Gross dividend	0.83	0.92	0.93	0.98	1.67
Net dividend	0.63	0.69	0.70	0.74	1.25
Net dividend with VVPR strip	0.71	0.78	0.79	0.83	1.42
Date of payment October					15/10/10	17/10/11
Ex-date October					12/10/10	12/10/11
Date of payment May	16/05/07	21/05/08	20/05/09	19/05/10	18/05/11
Ex-date May			15/05/09	14/05/10	13/05/11

Valuation

For previous years see datacenter and downloads 
For total shareholder return see IR tools