Dividends

Dividend proposed for 2021

€0.58 per share, i.e. a pay-out rate of 45%, with an option of payment of the balance of the dividend in new shares at an issue price of €7.44

A dividend of €0.58 per share was proposed to the Shareholders’ Meeting convened on 12 May 2022, corresponding to a pay-out rate of 45% of net income excluding non-recurring items(1).

Taking into account the interim dividend of €0.30 per share paid in December 2021, the balance of the dividend to be paid in respect of 2021 is €0.28 per share with the ordinary dividend and €0.338 per share for shares with the bonus dividend.

Each shareholder would be given the choice between payment of the balance of the dividend in cash or in new shares of the Company.

The schedule

The EDF Board of Directors meeting of 17 February 2022 set the terms for settlement of the balance of the dividend for 2021 that shareholders approved at the Shareholders’ Meeting:

  • On 18 may 2022: detachment of dividends (ordinary and loyalty);
  • From 20 May to 7 June 2022 inclusive (2): exercise period for the option for payment in new shares;
  • On 13 June 2022: dividend balance payment, and settlement/delivery of shares.

Unless they have opted for payment in new shares between 20 May and 7 June 2022 inclusive(2), shareholders will receive the balance of their dividend in cash on the date of its payment, namely 13 June 2022.

Price of new shares: €7.44.

This price equals to 90% of the average of the opening price of EDF’s shares during the 20 trading days prior to the Shareholders’ Meeting, less the amount of the balance of the dividend remaining to be paid for the year 2021, all rounded up to the next cent.

(1)Adjusted for the remuneration of hybrid bonds booked as equity.

(2)Subsequent to regulatory changes and the harmonisation of European standards on the payment process for optional dividends, the date of the end of the option period may vary from one financial intermediary to the next. For pure registered shareholders, BNP Paribas Securities Services, as the institution in charge of the securities service of the EDF company, has set this date at 3 June 2022 at the latest in order to supervise and centralise the responses of pure registered shareholders.

Interim dividend for 2021

€0.30: interim dividend for 2021 with an option of payment in new shares

At its meeting held on 4 November 2021, the Board of Directors of EDF declared a 2021 interim dividend of €0.30 per share with an option for shareholders to receive it in new shares of the Company.

€11.12: share price for the new shares issued as payment of the 2021 interim dividend

The share price, set by the Board of Directors, equals to the average opening price on the Euronext Paris market for the 20 trading days preceding 4 November 2021, reduced by the net amount of the interim dividend, with a 10% discount, rounded up to the nearest cent.

The schedule

  • On 11 November 2021: ex-date detachment;
  • From 15 to 26 November 2021(1) inclusive: exercise period for the option for payment in new shares;
  • On 2 December 2021: payment date and settlement/delivery of shares.

If the shareholder wish to receive the interim dividend in cash, no action on her/his part is required.

Any shareholder who did not exercise this option between 15 and 26 November 2021(1) inclusive received the whole of the interim dividend due to them in cash.

Results of the option to receive interim dividend in shares

94.92% of the rights were exercised in favor of a payment in new shares

(1) Subsequent to regulatory changes and the harmonisation of European standards on the payment process for optional dividends, the date of the end of the option period may vary from one financial intermediary to the next. For pure registered shareholders, BNP Paribas Securities Services, as the institution in charge of the securities service of the EDF company, has set this date at 24 November 2021 at the latest in order to supervise and centralise the responses of pure registered shareholders.


A 10% dividend increase for shareholders holding their shares in registered form

In 2011, the General Shareholders' Meeting adopted the amendment to EDF's legal status (in accordance with the provisions of Article L. 232-14 of the French Commercial Code) in order to include the system for paying a higher dividend plus 10% to shareholders holding their registered shares (pure or administered) for at least 2 calendar years continuously.

  • 10% increase applied to the entire dividend.
  • The first "loyalty bonus" of 10% has been awarded in 2014 for the dividend distributed for the year 2013.
  • The number of shares eligible for the 10% increase may not exceed, for the same shareholder, 0.5% of the share capital.


To note:

  • the registration of shares in registered form (pure or administered) will have to be effective on 31 December 2021 at the latest to receive the loyalty bonus, which will be provided in respect of the financial year ended on 31 December 2023, in 2024;
  • the taxation of increased dividends is identical to the taxation of ordinary dividends;
  • the loyalty bonus is paid at the same time as the dividend balance provided that you still hold your shares the day before the date of secondment In the context of a succession, a donation or a manual donation, the seniority and therefore the loyalty bonus attached to the shares will be kept.


To identify the shares that receive the loyalty bonus, consult their "value codes" (ISIN codes):

  • FR0014000R76: shares which will receive the loyalty bonus in 2023;
  • FR00140071T2: securities which will benefit from the loyalty bonus in 2024.

Two permanent value codes also exist:

  • FR0011635515: this code indicates that your shares already receive the loyalty bonus;
  • FR0010242511: it is the negotiation code; your shares acquired in the bearer or registered form during the current year are recorded under this code value.

Dividend evolution

Dividend proposed for 2020

€0.21 per share, i.e. a pay-out rate of 45%, with an option of payment in new shares at €10.64 per share

A dividend of €0.21 for shares receiving the ordinary dividend  was approved at the Shareholders’ Meeting on 6 May 2021. This amount corresponds to a pay-out rate of 45% of net income excluding non-recurring items (1).

The dividend for shares which benefits from the loyalty dividend amounts to €.0.231 per share.

 

Each shareholder would be given the choice between a payment of the dividend in cash or in new shares of the Company.

 

Price of new shares: €10.64. 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 amount of the dividend to be distributed and with a 10% discount rate, rounded to the next cent.

The terms for settlement

  • on 12 may 2021: detachment of dividends (ordinary and loyalty);
  • from 14 May to 1 June 2021 inclusive: exercise period for the option for payment in new shares;
  • on 7 June 2021: dividend payment, and settlement/delivery of shares.

Unless they have opted for payment in new shares between 14 May and 1 June 2021 inclusive, shareholders will receive their dividend in cash on the date of its payment, namely 7 June 2021.

The French State has committed to opt for a scrip dividend payment for 2020 fiscal year.

(1) Adjusted for the remuneration of hybrid bonds booked as equity.

Choose Registered Shares

The advantages of registered shares:

  • Save money and enjoy specific benefits.
  • No need to change your management habits.
  • You benefit from the 10% increased dividend.

The advantages of registered shares :

  • Save money and enjoy specific benefits;
  • No need to change your management habits;
  • You benefit from the 10% increased dividend.