Dividend

Dividend policy aimed at self funding business 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 ratio threshold
  • No obligation to pay a minimum DPS or pay-out ratio every year
  2016* 2017 2018 2019
DPS € 42.400 € 0.492 € 0.539 ~€ 0.415

Pay-out ratio (DPS/EPS**)

99.98% 87.59% 99.50% 76.02%
Cash dividends accrued in the year (€m) 72.13 83.69 91.75 70.87***
Ex-dividend date 13/03/2017 09/04/2018 01/04/2019 TBD

Average closing price of BFF share in the year

- € 5.383 € 5.293 € 5.063

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% 8.2%

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

- 8.4% 9.9%  

 

* The number of issued shares was 1,701,074.

** EPS is calculated on the full year consolidated Reported Net Income.

*** Refer to the press releases of 31st March 2020, 8th May 2020, 6th August 2020, 10th November 2020, 22nd December 2020, 28th January 2021 and 17th February 2021.