Dividend policy

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 

After a good start of 2020 with encouraging results, Bekaert projects - as announced in the press release of 26 March 2020 - a significant impact of the Covid-19 pandemic in the second quarter of 2020. In this context, and as part of other actions to mitigate as far as possible the impact of the pandemic on the financial position of the Group, the Board of Directors of Bekaert has decided to propose to the Annual General Meeting of Shareholders of 13 May 2020 to pay a dividend of € 0.35, half the initially announced € 0.70, and to postpone the payment from 18 May 2020 to 20 November 2020. The dividend decision was not taken lightly but the Board felt it appropriate as part of all other measures taken to precautionary protect the Group in the present uncertain environment.

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: 14 May 2020
• Record date: 15 May 2020
• Payment date: 20 November 2020

Per share*

*  The dividend is subject to approval by the General Meeting of Shareholders 2020.
** Subject to the applicable tax legislatuion.

Valuation

Additional information

• For previous years see: Presentations and downloads
• For total shareholder return see IR tools