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 Sienna Investment Managers 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

2021 proposed dividend distribution

The profit allocation related to the 2021 financial year was approved at the Ordinary General Meeting on April 26, 2022, in the form of a dividend of EUR 2.75 per GBL share (which represents a + 10.0% increase compared to EUR 2.50 in relation to the 2020 financial year), being equal to EUR 1.925 net per share (as a reminder, the withholding tax rate has been uniformly set at 30% for the GBL dividend since January 1, 2016).

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

Gross dividend
Dividend yield

Dividend per share

Gross dividend per share: EUR 2.75 (+ 10.0%)

Total amount: EUR 420.2 million

Coupon n°24

May 3, 2022

Ex-dividend date

May 4, 2022

Record date of the positions eligible

May 5, 2022

Payment date

Dividend

A balanced business model

Dividend per share

2021 proposed dividend distribution

Coupon n°24

Groupe Bruxelles Lambert (GBL)

Contact

Investor Relations