Dividend

Dividend policy aimed at self funding growth and paying excess capital to shareholders:

  • Target Total Capital ratio level of 15%, well above the SREP requirements
  • Earnings of the period retained to maintain the 15% Total Capital ratio target and pay-out the portion of the net income of the year in excess of the 15% TC threshold
  • No obligation to pay a minimum DPS or pay-out ratio every year
  2016 2017 2018
DPS € 42,400 € 0,492 € 0,539

Pay-out ratio (DPS/EPS**)

99,98% 87,59% 99,50%
Cash dividends accrued in the year (€m) 72,13 83,69 91,75
Ex-dividend date 13/03/2017 09/04/2018 04/01/2019

Average closing price of BFF share in the year

- € 5,383 € 5,293

Closing price of BFF share before ex-dividend date

- € 5,880 € 5,425

Dividend yield (DPS/Average price in the year)

- 9,1% 10,2%

Dividend yield (DPS/Price before ex-dividend date)

- 8,4% 9,9%

 

* The number of share was 1,701,074.

** EPS is calculated on the consolidated reported net income.