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


The dividend is subject to the approval of the shareholders at the General Meeting.

Change in dividend per share for the period

In 2020, the current global health crisis, and in a commitment to optimally balance the interests of all its stakeholders, the Group has decided to reduce the amount of the proposed 2019 dividend to €2, compared with the initially announced €3.85.

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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