Dividend

A balanced business model

GBL’s paid dividend is primarily derived from (i) the net dividend paid out by its portfolio companies and (ii) the contribution of GBL Capital and Sienna Investment Managers (“SIM”) to GBL’s cash earnings, after deduction of its cost structure.

GBL’s financial flexibility has been enhanced as a result of the revised dividend policy introduced in 2020. GBL has set a payout ratio of between 75% and 100% of its cash earnings from 2021 onwards by way of ordinary dividend, while reserving the option of paying exceptional dividends in the future when and if deemed appropriate. On this basis, GBL will continue to provide an attractive dividend yield to its shareholders while releasing additional financial resources to support (i) the acceleration of net asset value growth, (ii) its portfolio companies if needed and (iii) the execution of the group’s share buyback program.

GBL’s payout ratio is derived from the cash earnings. As a result, this ratio excludes cash inflows from asset disposals (including capital gains). GBL has a solid liquidity profile ensuring the availability of resources to implement its investment strategy throughout the economic cycle.

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Dividend per share

Profit distribution and proposed dividend

The profit allocation related to the 2022 financial year will be submitted for approval to the Ordinary General Meeting on May 4, 2023, for a total of EUR 402.4 million, compared to EUR 420.2 million granted for the previous year.

Taking into account the number of GBL shares entitled to dividends, this proposal for the distribution of profits corresponds to a gross dividend of EUR 2.75 per share (stable compared to the dividend for 2021), equivalent to EUR 1.925 net per share.

Evolution of the gross dividend per share over the last 10 years
(in EUR)

Gross dividend
Dividend yield

Evolution of the gross dividend per share over the last 10 years

Gross dividend per share: EUR 2.75 (stable)

Total amount: EUR 402.4 million

Coupon n°25

May 11, 2023

Ex-dividend date

May 12, 2023

Record date of the positions eligible

May 15, 2023

Payment date

Dividend

A balanced business model

Profit distribution and proposed dividend

Coupon n°25

Groupe Bruxelles Lambert (GBL)

Contact

Investor Relations