Dividend

The Executive Board decided on a new dividend policy. The previous dividend policy aimed at paying out a dividend of between 35-45% of the consolidated net result excluding major non-recurring effects. The new dividend policy of the Company aims at creating value in the long term. The objective of the dividend policy is to maintain a healthy financial structure and to retain sufficient earnings in order to execute Wessanen’s four pillar strategy. Wessanen aims at paying out a dividend that is stable or growing over time. Before deciding to pay out dividend, Wessanen will assess whether more value could be created by (i) investing profit in the execution of Wessanen’s strategy (such as investments in R&D, capex or acquisitions), (ii) improving Wessanen’s financial position (debt repayment), or (iii) improving the position of its shareholders (share repurchasing). Accordingly, it may be decided not to pay dividend or to pay a lower dividend in any year in the future.

In line with the new dividend policy, it is proposed to pay a dividend of EUR 0,12 per share representing 33,7% of the consolidated net result excluding major non-recurring effects divided by the number of shares outstanding at 31 December 2016.   The dividend will be paid wholly in cash. The shares will be quoted ex-dividend on 18 April 2017. Payment of the dividend will be made on 21 April 2017.

year

dividend
2016 €0.12 in cash
2015

€0.11

in cash

2014

€0.10

in cash

2013

€0.05

in cash

2012

€0.05

in cash

2011

€0.08

in cash

2010

€0.05 in cash / shares
General principles dividend

The proposed dividend for a financial year must be approved by the AGM and the dividend is paid after this meeting. Dividend payments are only allowed to the extent that the shareholders’ equity is in excess of the sum of the paid-up capital and any reserves required under Dutch law.

Dividend payments shall be made not later than fourteen days after adoption of the dividend.

The Executive Board, with the approval of the Supervisory Board, determines which part of the profit is to be appropriated to the reserves. The remaining profit may be distributed as a dividend to the holders of the shares. The AGM may, at the proposal of the Executive Board which has been approved by the Supervisory Board, resolve that a payment of dividend on shares be wholly or partly in shares.

If a loss is sustained in any year, no dividend shall be distributed for that year and for subsequent years until the loss has been defrayed out of the profit. The AGM may however resolve on a motion of the Executive Board which has been approved by the Supervisory Board, to defray any such loss out of the distributable part of the shareholders’ equity or to charge the dividend to the distributable part of the shareholders’ equity.
Dividend 2016 timetable

The following timetable is applicable for the 2016 dividend:

Date, timing

22 February 2017

Annual Report 2016 and agenda AGM online

15 March 2017

Record date AGM

12 April 2017

Annual General Meeting

18 April 2017

Shares ex-dividend date Euronext

19 April 2017

Dividend record date Euroclear

21 April 2017

Payment of dividend(net cash to financial intermediaries, gross dividend to large share holders)

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