Dividend

The goal of the Michelin group’s dividend policy is to pay out ratio  at least 35% of consolidated net incomes before non-recurring items.

For 2016 financial year, a dividend of €3.25 per share, representing a payout ratio of 36.5%, was approved by the shareholders at the Annual General Meeting on May 19, 2017. This dividend reflects the Group’s commitment to its shareholders.

CHANGE IN DIVIDEND PER SHARE FOR THE PERIOD

Pay-out ratio of consolidated net incomes before non recurring items

Dividend policy: to pay-out at least 37% of consolidated net incomes before non recurring items
In % 2016 2015 2014 2013 2012 2011 2010 2009
Pay-out ratio 36.5% 37% 41% 35% 30% 30% 30% NS

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