KBC Group introduces interim dividend
Current pay-out ratio policy maintained
Thursday, August 11, 2016 — This news item contains information that is subject to the transparency regulations for listed companies.
Starting this year, and barring exceptional or unforeseen circumstances, KBC will pay each year
- an interim dividend of 1 euro per share in November of the accounting year
- as well as a final dividend after the Annual Shareholders’ Meeting
The interim dividend will be an advance payment on the total dividend.
Today KBC Group reconfirmed its dividend policy, i.e. the pay-out ratio (dividend plus additional tier-1 (AT1) coupon) will be at least 50% of consolidated profit.
he introduction of an interim dividend will ensure a more evenly distributed cash flow to shareholders throughout the year.
Johan Thijs, KBC Group CEO: ‘KBC Group today reconfirmed its current pay-out ratio policy (i.e. dividend + AT1 coupon) of at least 50% of consolidated profit. From this year on, however, we will pay an interim dividend of 1 euro per year in cash as an advance on the total dividend. This will ensure a more evenly distributed cash flow to our shareholders.’
At its meeting held on 10 August 2016, the KBC Board of Directors approved an interim dividend of 1 euro per share. This interim dividend will be paid on 18 November 2016* and will ensure a more even distribution of interim dividend and final dividend payments throughout the year.
Dividend and interim dividend proposals will always take into account net earnings, exceptional results (if any), economic conditions, expected future capital requirements and growth opportunities available (both organic growth and acquisitions).
Payments per share are gross amounts which are subject to Belgian withholding tax. The total dividend is subject to approval by the shareholders at the Annual Shareholders’ Meeting.
*Ex-coupon date 16 November 2016, record date 17 November 2016 and payment date 18 November 2016.
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