Reference documents

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Voting rights are acquired with the purchase of shares. They allow the holder to take part in votes at the General Meeting, in particular on the approval of the annual accounts and appropriation of the income (payment of a dividend). A shareholder can be represented by proxy (by a shareholders’ association, for example). Each share held gives rise to one vote.

If you are an EDF shareholder, you own a proportion of the capital of EDF. You also benefit from :

• a right to a dividend : determined annually, its amount depends on the company’s profits;
  
• a right to information : you have free access to various documents that cover the company’s operations;
  
• rights relating to the management of the company : each share held corresponds to a voting right during the General Meeting. This vote can be exercised directly by the shareholder or by a representative, under certain conditions. Furthermore, the shareholder also enjoys the right to participate in transactions on the capital.
  

A share purchase or sale order must be placed with the financial intermediary (bank, stock market company, online broker, etc) that manages your share account or with the EDF Shares Department if you hold (or want to purchase) your EDF shares in the pure registered form.

For all information on shares , you can contact the toll-free number (free from a landline in France) 0800 85 85 85 from Monday to Friday from 8:45 to 18:00.

Yes, it is possible.

The Annual General Meeting deliberates on agenda items, generally set by the Board of Directors.

Each shareholder has the right to participate in the Annual General Meeting and holds as many votes as the number of shares and/or proxies with voting rights held: 1 share = 1 vote.

Any shareholder, who is able to justify his capacity as a shareholder, can personally attend the General Meeting, or vote by correspondence or by proxy.

The conditions governing the participation in the EDF Group’s General Meetings differ depending on the mode of holding of your shares: :

• Registered shareholders automatically receive all necessary documents to attend the Meeting, or to vote by correspondence, proxy or Internet. They must provide proof of registration on a personal account (pure or administered) at least three days before the meeting is to be held.
  
• Holders of bearer shares must get in touch with their financial intermediaries as soon as possible, and request according to their needs:

• the establishment of an entrance card if they wish to personally attend the General Meeting;
• a participation certificate showing their e-mail address if they want to vote by Internet;
• request a form to vote by correspondence or by proxy.

All the documents and reports relating to EDF General Shareholder's Meetings are available on the General Shareholder's Meetings page.

The EDF share was listed on the stock market on November 21, 2005.

The French Act of August 9, 2004 relating to the public service of the supply of electricity and gas and to other electric and gas companies stipulates that the State must hold at any time at least 70% of the capital and voting rights of the company. It will therefore continue to be the majority shareholder in the EDF Group.

Yes the EDF share is eligible for SRD (Deferred Payment Service)

View the EDF share profile page.

The EDF share has been on the list of CAC 40 shares since December 19, 2005.

View the EDF share profile page.

To learn all you need to know about EDF shareholders and distribution of the shares, view the Structure of the shareholding page of this site.

You can view the price of the EDF share during the last session as well as all the statistical and historical data concerning it on the Share price page of this site.

You can find the ISIN (International Securities Identification Number) code for the EDF share on the EDF share profile page

The amount of the last dividend and its payment date are on the Dividend page of this site.

To be entitled to a dividend, you simply have to be the owner of the share on the day before the ex-dividend date. (this also applies in the event of the payment of an interim payment, then the balance).

Under the new Euroclear computer system (central custodian for French shares), the following dates have been specified (the transfer of ownership of a share no longer corresponds to its trading date but to that of its conclusion between financial intermediaries, i.e. three stock market days after the trading date on Euronext):

• Ex date : Date from which the trading on the Stock Market is performed on the share without entitlement to the payment of the dividend to come,
  
• Record date : Date on which the positions are closed, at the end of the day with the Central Custodian, in order to identify the shareholders who will receive the dividend,
  
• Payment date.
  

In case of payment in cash

• Ex date = D-3
• Record date = D-1 
• Payment date: D

• Friday May 29, 2009: Ex date,
  
• Tuesday June 2, 2009: Record date,
  
• Wednesday June 3, 2009: Payment date.
  

The Board of Director’s meeting of November 7, 2007 decided for the 2007 financial year, to pay on November 30, 2007 an interim dividend of €0.58 per share.

EDF Board of Directors met on November 20, 2008 and decided to pay, in respect of the 2008 financial year, an interim dividend of 0.64 euro per share to be paid on December 17, 2008.
EDF Board of Directors, met on Thursday 5th November 2009 decided to pay an interim dividend for 2009 financial year, of 0.55 euro per share, paid on 17th December 2009.

The balance, paid in addition to the interim dividend, is paid after the General Meeting that approves its distribution.

Since January 1, 2008, if your shares are held in an ordinary share account, social security payments will be directly deducted at source. Therefore, for each share you will receive the announced amount of the dividend (balance, or interim payment) reduced by the rate of social security payments in force at the time of the payment*.

If your shares are held in a PEA, social security payments do not apply and your PEA cash account is credited with the announced amount.

*Social security payments of:

11.0% in 2008 (8.2% for CSG, 0.5% for CRDS and 2.3% social security payment),
12.1% in 2009 (8.2% for CSG, 0.5% for CRDS, 2.3% social security payment, and 1.1 for RSA).

The interim dividend corresponds to the early payment of a fraction of the dividend to come for the current financial year.

The interim dividend (like the dividend itself) is taxable under revenue received the year of its payment: the interim dividend for 2009, paid in December 2009 is therefore taxable under revenue received in 2009.

You will find all the information concerning this policy on the Dividend page of this site.

Go to the Taxation page

The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses:

• production,
  
• transport,
  
• distribution,
  
• energy selling and trading.

The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95% of the electricity output involves no CO₂ emissions. To find out more, view the Activities page

The EDF Group’s strategy is presented in the Reference Document (annual publication). The Reference Document can be viewed on the Results and publications pages.

You can find this figure on the Key figures page.

You can find this figure on the Key figures page.

You can find this figure on the Key figures page

You can view the EDF financial press releases on our News page.
You can view all our releases on our Media page.

A simplified legal flow-chart of the Group is presented in the Reference Document (annual publication). The Reference Document can be viewed on the Results and publications page .

View the the status of EDF SA

Public service is part of the Group’s historical values and corresponds to legal obligations, in particular formulated in a public service contract signed with the State. EDF continues to pursue its public service missions according to the applicable legal and regulatory provisions, monitored in particular by the Energy Regulation Commission (CRE).

To this end, the new public service contract was signed on October 24, 2005. It provides guarantees for maintaining a high level of public service for electricity in France, and specifies the resources necessary to finance EDF’s commitments. 

Specifically, it relates to:

• safety of supply;
  
• maintaining a high level of safety in installations,
  
• measures implemented in order to make the service accessible to all customers, (including the most needy), national solidarity, movement towards social inclusion and local services,
  
• resources developed to restrain rate changes for electricity,
  
• land use,
  
• environmental protection. 

Since 1946, EDF has had the legal status of a French EPIC or Industrial and Commercial Public Establishment. This status was no longer adapted to the new conditions of competition resulting from the opening up of markets in Europe. In accordance with the European directives governing the electricity sector, the French law dated August 9, 2004 relating to the public service of electricity and gas and to gas and electrical companies altered EDF’s legal status. The company became a French Société Anonyme or limited company, with a Board of Directors. This new legal status allows EDF to no longer be limited by its former EPIC status. EDF can thus broaden its commercial offer beyond simply supplying electricity. The Group is moving towards multi-energy offers and related services, such as offering the combined supply of gas and electricity and related energy services.

More information on the Legal status page .

The EDF financial year corresponds to the calendar year. It covers the period from January 1 to December 31.

You can find the latest half-yearly and annual results of the Group on the Key figures and Results and publications pages on this site.

EDF is rated by three rating agencies: Moody’s, Standard & Poor’s and Fitch. The rates given by these agencies now allow EDF to enjoy favourable conditions for access to the financial markets. Each agency uses its own system in attributing ratings.

The assessment of financial rating agencies - Moody’s, Standard & Poor’s and Fitch – is specified on the ratings pages

The accountancy and evaluation methods applied (for a given period) by the Group are detailed in the management report for the period concerned. The financial reports can be viewed on the Results and publications pages of this site.

In accordance with European regulation 06/16/2002 of July 19, 2002 concerning international standards, the consolidated financial statements of EDF Group for the period ending December 31, 2007 have been prepared to conform to the international accountancy standards published by the IASB and approved by the European Union on December 31, 2007.?

These international standards include the IAS (International Accounting Standards), IFRS (International Financial Reporting Standards) and the interpretations (SIC and IFRIC).

The financial statements for the financial year 2007 are presented with a comparison to 2006 drawn up according to the same system of reference.

Since January 1, 2005, a European Parliament directive imposed the new accountancy standards known as IFRS (International Financial Reporting Standards) on all companies listed on the stock exchange. The new IFRS standards should allow investors to easily compare European listed companies and make it easier to compare them with international companies that apply the same standards.

For any additional question or opinion to be sent, go to our Contacts

This bond issue for individuals is one of the components of EDF’s overall financing policy, which aims to provide the financial means for its development.

For individuals a bond investment presents the advantage of combining return and security in a context of great uncertainty on the financial markets and shares in particular.

No. This issue is included in a wider programme that contributes to financing development and Group investments.

EDF has one of the most solid financial structures in its sector, as its rating underlines [link towards rating page], which is one of the best in its sector, and the bond issues carried out by the Group during the recent period have been highly successful with French and international institutional investors.  

EDF’s EMTN (Euro Medium Term Notes) programme is the legal framework used for nearly all of the company’s bond issues.

The letters “EMTN” mean Euro Medium Term Notes. This is a bond issue programme created by the company to enable it to carry out bond transactions on a regular basis, over a period of several years. It also enables it to access the bond markets of several European countries.

• Coupon: the coupon of a fixed-rate bond is by definition fixed during its life. Therefore, it is independent of the company’s financial results.
• Maturity: bonds have a fixed lifetime, and are fully reimbursed on the expiry date (also called maturity date or repayment date) at their par value. 
• Denomination: this is the amount expressed in euros for a single bond, often called the par amount. This is also the minimum amount that can be invested in the purchase of a bond.
• Price: during the subscription period the purchase price is generally equal to 100% of the par value of the bonds, i.e. for a denomination of €1,000, a purchase price of €1,000. After the subscription period, this price changes

During the lifetime of the bond an individual can resell all or part of his investment.
To do this, he must contact his financial intermediary.

This bond has been continuously listed since July 17, 2009 on Euronext Paris with the following references:

Listed: EDF 4.5% 17JUL14 Code CFI, ISIN: FR0010758888, Mnemonic: EDFAO (the listing is available on the main stock market sites by searching for its ISIN code).

The listing is done by % in relation to the nominal price.

Bonds, like shares, are subject to price fluctuations during their lifetime. These fluctuations depend on supply and demand, but also different technical factors, particularly the period lapsed since the payment date of the last coupon (accrued coupon) and the change in the interest rates on the bond market (a rise in rates is generally conveyed by a fall in the price of bonds in circulation, and vice versa). It is important to note that these fluctuations do not affect the final value of the bonds on maturity, which remains fixed. These changes in price will therefore have a positive or negative impact only for investors who want to sell (or purchase) bonds before their maturity date.

Further to a reform applicable from January 2008, dividends are either taxable as investment income or as a fixed deduction.

In the first case, dividends must be included for determining taxable income under income tax (category of revenue from investment income) for the year they are paid. In this case, taxpayers benefit from an allowance on the amount of dividends paid:

• a general allowance of 40% with no maximum limit;
• an annual and overall fixed allowance of €3,050 for married couples or those that have signed a civil solidarity agreement subject to joint taxation, and €1,525 for single people, widows, divorcees or those married and taxed separately. If the amount of the allowance is above the amount of the taxable revenue, the excess cannot be returned or carried over to the following year.

Furthermore, they benefit from a tax credit of 50% before the allowance and custody fees. This tax credit has an annual maximum limit of €230 for married couples or those that have signed a civil solidarity agreement subject to joint taxation, and €115 for single people, widows, divorcees or those married and taxed separately. This tax credit can be returned if it exceeds the total amount of the income tax due by the taxpayer.

The amount of the dividends paid, before the application of the general allowance and the fixed annual allowance, is also subject to CSG and the other social security payments (the 11% rate, in force in 2008, rises to 12.1% in 2009).

Since the start of 2008, the paying establishment deducts at source the amount of the social security payments due on the dividends (12.1% from the start of 2009). This provision does not apply to revenues received from a PEA (Share Savings Plan).

If the taxpayer opts for the fixed levy at source (18%, plus the social security payments of 12.1% in 2009, i.e. a total of 30.1% in 2009), the dividends are taxed the same year they are received on the gross amount (i.e. without the application of the different allowances granted in the general case) and do not grant entitlement to a tax credit with a maximum limit of €115 or €230. The option must be chosen by the taxpayer with the paying establishment at the latest during the deposit of the revenue, and this for each distribution for which he wants to benefit from the levy at source.

NB:

• opting for the fixed levy at source for dividends from shares is only interesting for persons for whom the marginal rate of tax exceeds 30% and for which the dividends paid are very high.
• if the taxpayer receives during the same year dividends for which he has opted, for only a proportion, for the fixed levy at source, those of the dividends not having been subject to the option for the levy are expressly excluded from the benefit of the different allowances and do not grant entitlement to the aforementioned tax credit.

Specific tax regulations apply to dividends from shares in a PEA (Share Savings Plan) or in a PEE (Company Savings Plan) and reinvested in these plans.

The net capital gain corresponds to the difference between the share sale price (net of transaction fees and taxes paid) and its purchase price (including the purchase fees). When the gross amount (before the deduction of fees) from all the sales of securities completed during the year per household exceeds a certain threshold (€25,000 in 2008, €25,730 in 2009), the net capital gains achieved by the individuals are, from the first euro, subject to:

• capital gains tax at the fixed rate of 18% (since January 1, 2008);
• CSG and other social security payments (11% in 2008, and 12.1% in 2009).
  

However, from January 1, 2006, a gradual exemption from tax on capital gains according to the length of the period the shares are held has been introduced: an allowance of a third per year held beyond the fifth year is applied to the net capital gain. Thus, the capital gain achieved after the end of the eighth year will be fully exempted from taxation at the fixed rate:

• In practice, shares acquired during a year are considered as held since January 1 of this same year.
• Moreover, the holding period begins on January 1, 2006, including for securities acquired before this date. In this case, the first allowance of a third will be applied for shares sold in 2012, and the exemption for shares sold from 2014. 
• Note that the social security payments will remain due on the totality of the net capital gain, however long the shares are held.
  

Specific tax regulations apply to dividends from shares in a PEA (Share Savings Plan) or in a PEE (Company Savings Plan).

Shares can be purchased in a PEA (Share Savings Plan). Under certain conditions, the PEA grants entitlement:

• throughout its term, to a tax exemption on income and social security payments on dividends, capital gains and other income generated by investments and reinvested in the PEA;
• at the time of its closure (if it occurs more than five years after its opening date) or during a partial withdrawal (if it occurs more than eight years after its opening date), to exemption on income concerning the net gain achieved since the opening of the plan (however, it remains subject to social security payments).
  

Shares held by individuals as part of their private assets are included in their taxable assets subject to, where applicable, wealth tax. In this context, the taxpayer may value the share either at the stock market closing price on the last day of the year, or by retaining the average of the stock market prices over the last 30 days of the year.

For the EDF share, for 2009:

• Closing price on 12/31/2009: €41.560
• Average of the stock market prices over the last 30 trading days of 2009: €39.949
  

Shares acquired by inheritance or gifts are subject to inheritance or gift tax in France.