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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 order to reward shareholder loyalty, EDF proposed, and the annual general meeting had approved on 24 May 2011, the implementation of a "loyalty bonus" scheme.

Shareholders holding their shares in the registered (pure or administered) form for more than two full calendar years benefit from the loyalty bonus. With the loyalty bonus, the amount of dividends is increased by 10% (Provision limited to 0.5% of the capital for a single shareholder, at the closing date of the previous financial year).

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.19-20) 


2011 Dividend

In line with the objective of paying a 2011 dividend that is stable versus the one paid out in 2010, the EDF Board of Directors will propose the payment of a total dividend of €1.15 at the Shareholders' Meeting on 24 May 2012. This represents a payout of 60% of the Group's 2011 net income excluding non-recurring items.

The remaining dividend to be paid is €0.58 per share given the payment of the interim dividend of €0.57 per share that was decided by the Board of Directors on 22 November 2011.

  •  Friday 1 June, 2012 : Ex-Date, the date from which the shares are traded on the Stock Market without entitlement to forthcoming dividend payment;
  • Tuesday 5 June, 2012 : 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 the interim dividend;
  • Wednesday 6 June, 2012 : Payment Date.

2011 Interim Dividend

EDF's Board of Directors, meeting on November 22, 2011, decided to pay an interim dividend for 2011 Fiscal Year.

It amounts to € 0.57 per share, which represents half of the total dividend paid for 2010. EDF confirms its objective of stable dividend for 2011.

  • Tuesday 13 December, 2011: Ex-Date, the date from which the shares are traded on the Stock Market without entitlement to forthcoming dividend payment;
  • Thursday 15 December, 2011: 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 the interim dividend;
  • Friday 16 December, 2011: Payment Date.

Dividend History

Evolution of the dividend 2005-2011

  • 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 2009, 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 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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