For the 2024 results, we have proposed a dividend of €1.08 per share — a 35% increase year-on-year and nearly triple the amount paid in 2017 (€ 0.42).

Thanks to strong visibility on future cash flows and group capital optimization, we are yet again upgrading our dividend policy by structurally increasing the payout ratio from 65% to 70% throughout the 2028 plan. As a result, our new target of cumulated dividends for the 5-year plan increases from € 6.5 billion to around € 7.5 billion.

 

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total dividends distributed (€m)	509	549	574	602	632	768	843	1,036	1,411
Dividend per share (€)	0.39	0.42	0.44	0.46	0.49	0.59	0.65	0.80	1.08