Content
Dividends
The Group will implement a dynamic dividend policy.
Dividend policy
GDF SUEZ will implement a dynamic dividend policy targeting an attractive yield compared with the sector average:
- target payout ratio above 50% of Group recurring net income,
- average annual growth in dividend per share of 10 to 15% between the dividend paid in 2007(1) and in 2010.
The Group will also have the potential for additional payouts in the form of exceptional dividends and a share buyback programme.
(1)Based on the Gaz de France dividend paid in 2007 relating to fiscal year 2006 (€1.1 per share). SUEZ shareholders will also benefit from dividends distributed by SUEZ ENVIRONNEMENT from 2009 for fiscal year 2008.
History of dividend payments
* Listed on the Paris Stock Exchange on July 7, 2005 with negotiations starting on July 8, 2005.
The Board meeting of GDF SUEZ will be asked to approve an exceptional dividend of 0.80 euros per share of the new Group.
On July 15, 2008, Gérard Mestrallet and Jean-François Cirelli decided to ask the new Board of Directors of GDF SUEZ to approve the payment of an exceptional dividend of 0.80 euros per share of the new Group. This decision fits in with the shareholder reward policy which was defined prior to the effective merger of the Gaz de France and SUEZ groups.
This exceptional dividend should be paid out before the end of the year in the form of an advance on dividends. The principle of this exceptional dividend will be submitted to the Board of Directors of GDF SUEZ for approval after the drafting of the accounts for the first half of 2008 on August 31, 2008.
Given the upbeat level of activity of the GDF SUEZ Group in 2008, we foresee continuing growth, the maintenance of a solid financial structure and the implementation of an attractive shareholder reward policy, in line with the Group’s commitments. For this reason this exceptional dividend will be paid out on top of the ordinary dividend which is due to be paid out in 2009 in connection with the Group’s performance during the 2008 trading year, whose parameters have already been disclosed to the market.
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