Dividend policy

Unieuro’s dividend policy currently in place, as approved by the Board of Directors on 1 March 2017 and amended on 10 January 2019, provides for the annual payout of dividends in an amount not less than 50% of the Company’s Adjusted Net Income.

Provided that all legal and factual conditions are met, dividend payout takes place, tentatively, in the month of June, following the end of the relevant Financial Year.

Dividend history

Fiscal Year Dividend (€)Ex-dividend datePayment dateTotal dividend amount
(€ mln)
Adj. Net results
(€ mln)
Payout
2021/22t.b.d.27/06/202229/06/2022t.b.d.t.b.d.t.b.d.
2021/222.60 (**)21/06/202123/06/202153.8 (**)66.980.2% (**)
2019/20(*)--(*)45.7(*)
2018/191.0724/06/201926/06/201921.442.750.1%
2017/181.0011/06/201813/06/20182039.450.8%
2016/171.0025/09/201727/09/20172036.355.1%

(*) Despite the positive results achieved by Unieuro in the 2019/20 financial year, on 6 May 2020 – in light of the Covid-19 emergency – the Board of Directors decided to waive the dividend policy in force and to submit to the Shareholders’ Meeting the allocation of the parent company’s profit for the year to the extraordinary reserve and therefore not to distribute dividends for the relevant financial year. On 12 June 2020, the Shareholders’ Meeting confirmed the decision, which was made in order to further strengthen Unieuro’s financial structure as a precaution.

(**) The amount of € 2.60 was calculated by applying to the Adjusted Net Income for both financial years 2019/20 and 2020/21 the Dividend Policy of the Company, until the maximum amount of distributable profit for the year is exhausted. The decision to settle the unpaid coupon from 2019/20 profits stems from the Board of Directors’ desire to reward Shareholders, who in 2020 prudently and responsibly waived the remuneration of capital in order to help preserve the company’s solidity.