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.
Profit appropriation
Based on the superior results of 2021, the Board of Directors of Bekaert will propose to the Annual General Meeting of Shareholders in May of 2022 a 50% gross dividend increase to
€ 1.50 per share.
Payment will be made at the offices of the following financial institutions:
- BNP Paribas Fortis (Principal Paying Agent), ING Belgium, Bank Degroof Petercam, KBC Bank, Belfius Bank in Belgium;
- Société Générale in France;
- ABN AMRO Bank in The Netherlands;
- UBS in Switzerland.
Dates
- Ex date: 12 May 2022
- Record date: 13 May 2022
- Payment date: 16 May 2022
Per share*
| in € |
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
2014 |
| Gross dividend |
1.500 |
1.000 |
0.350 |
0.700 |
1.100 |
1.100 |
0.900 |
0.850 |
| Net dividend** |
1.050 |
0.700 |
0.245 |
0.490 |
0.770 |
0.770 |
0.657 |
0.638 |
| Coupon number |
13 |
12 |
11 |
10 |
9 |
8 |
7 |
6 |
* The dividend is subject to approval by the General Meeting of Shareholders 2022.
** Subject to the applicable tax legislation.
Valuation
| in % |
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
2014 |
| Dividend yield |
3.83 |
3.68 |
1.3 |
3.3 |
3.0 |
2.9 |
3.2 |
3.2 |
| Dividend yield (average) |
4.13 |
5.02 |
1.5 |
2.5 |
2.6 |
3.0 |
3.4 |
3.1 |
| Dividend pay-out ratio |
21.8 |
42.0 |
47.9 |
99.5 |
33.8 |
59.0 |
49.5 |
54.4 |
| Dividend growth |
50.0 |
285.7 |
-50.0 |
-36.4 |
0.0 |
22.2 |
5.9 |
- |
Additional information