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Dividend

Dividend distribution policy

The 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.

A 10% dividend increase for loyal shareholders

In 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% will be awarded in 2014 for the dividend to be distributed for the year 2013.
    (Subject to the decision taken at the Annual General Meeting on the distribution of dividends). 

For further information on this topic

Shareholders' combined meeting 24 may 2011 decides to amend article 24 (Allocation of financial results) of the bylaws of the Company as follows:

" ...

2. Any shareholder who, at the end of the financial year, has held registered shares for at least two years and still holds them at the date of payment of the dividend in respect of this financial year, shall receive in respect of such shares a bonus equal to 10% of the dividend paid for the other shares
, including any dividend which is paid in new shares. Where applicable, the increased dividend will be rounded down to the nearest cent. New shares thus issued shall rank pari passu with the existing shares in respect of which they were issued, for the purpose of calculating the rights to bonus dividend and increased distributions.

Similarly, any shareholder who, at the end of the financial year, has held such registered shares for at least two years and still holds them at the issuance date of a share capital increase by way of capitalization of reserves, profits or premiums that gives rise to bonus shares distribution, shall receive additional bonus shares equal to 10% of the number distributed, rounded down to the nearest whole number in case of fractions.

The number of shares giving entitlement to such increases may not exceed 0.5% of the share capital per shareholder as at the end of the relevant financial year.

In the event of a dividend payment in shares or bonus shares distribution, any additional shares shall rank pari passu with the shares previously held by the shareholder for the purpose of determining any bonus dividend or bonus shares distribution. However, in the event of fractions:

  • where the shareholder exercises its option for the payment of the dividend in shares, the shareholder meeting the legal requirements may pay a balancing amount in cash to receive an additional share;
  • in the case of a bonus shares distribution, the rights to any fractions of a share arising from the increase shall not be negotiable and the corresponding shares shall be sold and the proceeds distribute to the holders of such rights no later than thirty days after the registration in their account of the whole number of shares allocated to them.

The provisions of this paragraph shall apply for the first time to the payment of the dividend to be distributed in respect of the financial year ending on 31 December 2013, determined by the ordinary shareholders' meeting to be held in 2014."

(Source Guide to the General Shareholders' Meeting - Convening notice - p.32) 


Dividend for the fiscal year 2013

EDF SA's Board of Directors met yesterday under the Chairmanship of Henri Proglio, and decided to pay a cash interim dividend for 2013 Fiscal Year amounting to €0.57 per share.

This interim dividend will have an ex date on 12 December 2013 and a payment date on 17 December 2013.

Moreover, EDF confirms its 2013 payout ratio target of between 55% and 65% of the net income excluding non-recurring items.


Dividend for the fiscal year 2012

The Shareholders' meeting on 30 May 2013 approved a total dividend of €1.25 per share for 2012. This represents a distribution rate of 55% of the EDF Group net income in 2012.

The Board of Directors and the Shareholders' meeting of 30 May 2013 decided for a payment of 0.68€ per share on the 2012 remaining dividend to be paid, with the option for a portion of €0.10 per share to be paid in new EDF shares while the remainder of 0.58€ will be in cash.

Thus, during the option period, each shareholder will be offered to opt for a payment in new EDF shares for a portion of €0.10 per share on the relevant shares owned ; the remainder of the dividend, 0.58€ per share, will be paid in cash. Once the deadline of the option period has expired, each shareholder who has not exercised this option will be receive their dividend all in cash.

When the amount of the dividend to which a shareholder is entitled to does not correspond to a whole number of shares, the shareholder may obtain the next lower number of shares completed by an equalizing payment in cash. The issuie price of the new shares, as announced at the Sharehorders' meeting of 30 May 2013, is 15,29€ per share.

  • 5 June 2013: record date for the dividend payment in shares (date for which the holdings are recorded at the end of the day at the central securities depositary)
  • 10 June 2013: record date for the dividend payment in cash (date for which the holdings are recorded at the end of the day at the central securities depositary)
  • 6 June 2013: ex-date (date for which the shares are traded ex-dividend)
    Option period: shareholders will be able to opt for a dividend in shares from 6 June 2013 to 26 June 2013 inclusive
  • 8 July: payment date

2011 Interim Dividend

In 2012, in respect of 2011 results, The General Meeting of Shareholders held on May 24, 2012 voted for the payment of a dividend of€1.15 per share, in respect of 2010.

This represents a payout of 60% of the Group's 2011 net income excluding non-recurring items.


Dividend History

Evolution of the dividend 2005-2013

  • In 2013, in respect of 2012 results
    Considering the 2012 interim dividend of 0.57 € per share paid in December 2012, the remainder of the dividend to be paid comes to 0.68 € per share. The dividend will be paid on 8 July 2013.
  • In 2012, in respect of 2011 results
    The General Meeting of Shareholders held on May 24, 2012 voted for the payment of a dividend of €1.15 per share
    , in respect of 2011. Given the interim dividend payment of €0.57 per share paid on December 2011, the remaining €0.58 per share was paid on June 6, 2012.
  • In 2011, in respect of 2010 results
    The General Meeting of Shareholders held on May 24, 2011 voted for the payment of a dividend of €1.15 per share
    , in respect of 2010. Given the interim dividend payment of €0.57 per share paid on December 2010, the remaining €0.58 per share was paid on June 6, 2011.
  • In 2010, in respect of 2009 results
    The General Meeting of Shareholders held on May 18, 2010 voted for the payment of a dividend of €1.15 per share
    , in respect of 2009. Given the interim dividend payment of €0.55 per share paid on December 2009, the remaining €0.60 per share was paid on June 3, 2010.
  • In 2009, in respect of 2008 results
    The General Meeting of Shareholders held on May 20, 2009
    voted for the payment of a dividend of €1.28 per share, in respect of 2008. Given the interim dividend payment of €0.64 per share paid on December 17, 2008, the remaining €0.64 per share was paid on June 3, 2009.
  • In 2008, in respect of 2007 results
    The General Meeting of Shareholders held on 20 May, 2008 voted for the payment of a dividend of €1.28 per share
    in respect of 2007 corresponding to 50% of the net result excluding non-recurring items. Given the interim dividend of €0.58 (paid on November 30, 2007), the remaining €0.70 per share was paid on June 2, 2008.
  • In 2007, in respect of 2006 results
    The General Meeting held on 24 May, 2007 voted for the payment of a dividend of 2.1 billion Euros, or €1.16 euro per share in respect of 2006, an increase of 47 % compared to 2005, which was paid on June 4, 2007.
  • In 2006, in respect of 2005 results
    The Ordinary General Meeting held on June 9, 2006 voted for the payment of a dividend of 1.4 billion Euros, or €0.79 per share, which was paid on June 20, 2006.

Interim dividend history

  • EDF's Board of Directors, meeting on November 26, 2013, decided in respect of the current financial year to pay on December 17, 2013 an interim dividend of 0,57 euro per share. 
  • EDF's Board of Directors, meeting on November 22, 2012, decided in respect of the current financial year to pay on December 17, 2012 an interim dividend of 0,57 euro per share. 
  • EDF's Board of Directors, meeting on November 22, 2011, decided in respect of the current financial year to pay on December 16, 2011 an interim dividend of 0,57 euro per share.
  • EDF's Board of Directors, meeting on November 30, 2010, decided in respect of the current financial year to pay on December 17, 2010 an interim dividend of 0,57 euro per share. 
  • EDF's Board of Directors, meeting on November 5, 2009, decided in respect of the current financial year to pay on December 17, 2009 an interim dividend of 0,55 euro per share. Between 16 November 2009 and 4 December 2009 inclusive, shareholders were able to opt for payment in cash or in the form of shares by filing a request with their financial intermediaries.
    To find out more : "Questions & Answers" on the payment of the 2009 interim dividend in the form of shares - French version (PDF, 612Kb)
    The issue price for the new shares resulting from the share payment option was fixed at €35.13, or equal to 90% of the opening trading prices quoted on Euronext Paris for the twenty-day period prior to the Board's decision, less the net amount of the interim dividend and rounded up to the nearest euro cent.
    Read the press release on the the outcome of the share payment option dated December 15, 2009
    As this was an interim dividend that paid ether in shares or in cash, it became ex-dividend as follows:
    • November 13, 2009 after hours: Record Date, the date on which positions are closed, at the end of the day at the Central Custodian, in order to identify the shareholders who are to receive an interim dividend
    • November 16, 2009: Ex-Date, the date from which the shares are traded on the Stock Market without entitlement to forthcoming dividend payment
    • December 17, 2009: Payment Date.
  • EDF's Board of Directors, meeting on November 20, 2008, decided in respect of the current financial year, to pay on December 17, 2008 an interim dividend of 0,64 euro per share.
  • EDF's Board of Directors, meeting on November 7, 2007, decided in respect of the current financial year, to pay on November 30, 2007 an interim dividend of 0,58 euro per share.

Payment of dividends

The 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.

Since the beginning of 2008, the paying bank deducts at source the amount of social security payments due on the dividends(11% in 2008 and 12.1% with effect from January 2009). This provision does not apply to revenue received from a PEA (Share Savings Plan).

For more information:

To find out more on the reference dates linked to the payment of the dividend, please see page “your questions > dividend

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