The Group will generate significant growth in order to guarantee long-term value creation. To demonstrate how confident the Group is in his ability to deliver on this strategy, he will significantly increase the dividend payout rate from 2021 to 50% of net income excluding non-recurring items.

Change in dividend per share for the period

In 2021, Michelin distributed a dividend of €2.30 per share to all its shareholders, representing a payout ratio of 47% of net income before non-recurring items.

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

Practical information

Payment procedure


If your shares are directly registered with the Company (nominatif pur), the dividend will be paid automatically by Société Générale Securities Services on May 22, 2020, without any fees.


If your shares are indirectly registered (nominatif administré), the dividend will be paid by the bank or broker managing your account, under its own terms and conditions.


If ownership rights are divided between usufructuaries and bare owners (démembrement), the dividend will be paid to the usufructuaries.

In the case of ownership in common (indivision), the dividend will be paid to each tenant in common pro-rata to his or her percentage of ownership.

2021 dividend calendar

  • May 21, 2021: Annual General Meeting
  • May 27, 2021: Payment date

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