Dividend distribution policyThe dividend distribution policy is determined by EDF’s Board of Directors.
It takes into account the Group’s investment needs, the economic context and any other factor considered to be relevant.
Total dividend for the 2016 financial year: €0.90 per share for shares entitled to the ordinary dividend, including an option to be paid in new shares
Terms of payment of the balance of the dividend for the 2016 financial year
On 3 March 2017, the Board of Directors of EDF set the terms of payment of the balance of the dividend for the 2016 financial year. These terms of payment were approved during the general shareholders’ meeting of 18 May 2017:
- Ordinary and loyalty dividend ex-date on 6 June 2017
- Exercise period of the option to have the balance of the dividend paid in new shares from 6 June until 20 June 2017 (inclusive)
- Payment date of the balance of the dividend and settlement/delivery of the shares on 30 June 2017
The balance of the dividend to be distributed for the 2016 financial year amounts to €0.40 per share for shares entitled to the ordinary dividend and to €0.49 per share for shares entitled to the loyalty dividend, taking into account an interim dividend of €0.50 per share (excluding loyalty bonus) paid on 31 October 2016.
Price of new shares : €7.04. This price is the average of the opening price of EDF’s shares during the 20 trading days prior to the Shareholders’ Meeting, less the outstanding balance of the final dividend to be distributed for 2016 and with a 10% rate discount rate, rounded to the next cent.
Interim dividend for 2016 fiscal year
The share price for the new shares which has been issued as payment of the 2016 interim dividend was set by the Board of Directors at €9.622. Shares issued in this way carried immediate dividend rights and accordingly gave the right to any distribution decided from the date they are issued. An application was made to admit the new shares for trading on the Euronext Paris market.
- 5 October 2016: Ex-date (date for which the shares are traded ex-dividend)
- 5 to 21 October 2016 inclusive: Option period for the outstanding balance of the dividend in cash or shares. The option may be exercised on request with authorized financial brokers.
- 31 October 2016: Payment date
For shareholders who elect to receive the 2016 interim dividend in shares, the date for the delivery of shares was set for 31 October 2016. If the amount of the 2016 interim dividend for which the option of payment in shares is exercised does not correspond to a whole number of shares, the shareholder received the number of shares immediately below, plus a balancing cash adjustment.
1. Excluding loyalty bonus.
2. This price is equal to the average opening price on the Euronext Paris for the twenty trading days preceding 30 September 2016, reduced by the net amount of the interim dividend, with a 10% discount, rounded up to the nearest cent. This price is the minimum price set by the fourth resolution at the Combined General Meeting of 12 May 2016.
Payment of dividendsThe dividend is attached to a share.
As this is a cash payment, there is no specific procedure to follow; the dividend is credited by your financial intermediary straight into the bank account associated with your share account.
A 10% dividend increase for loyal shareholdersIn 2011, the Annual General Meeting adopted the amendment to the articles of EDF with the implementation of a "loyalty bonus" of 10% for shareholders holding their shares in registered form (pure or administered) for at least 2 calendar years continuously.
- Provision limited to 0.5% of the capital for a single shareholder, at the closing date of the previous financial year
- The first "loyalty bonus" of 10% has been awarded in 2014 for the dividend distributed for the year 2013
- The registration of shares in registered form (pure or administered) will have to be effective on 31 December 2016 at the latest to receive the loyalty bonus, which will be provided in respect of the financial year ended on 31 December 2018, in 2019