At the 2018 Annual General Meeting of Shareholders (AGM) on May 15, 2018, shareholders voted in favor of the proposal to distribute a cash dividend of EUR 1.25 per share, against the net income for 2017 and free distributable reserves.
This represents an increase of 14% compared with last year, and a pay-out ratio of 45%.
Signify is targeting an annual dividend pay-out ratio of 40% to 50% of continuing net income to be paid out annually in cash. Continuing net income is defined as net income excluding discontinued operations and excluding material non-recurring items such as restructuring, acquisition-related and separation charges.
The payment of dividends, if any, and the amounts and timing thereof, will depend on a number of factors, including future revenue, profits, financial conditions, general economic and business conditions and prospects and such other factors as the Board of Management may deem relevant as well as other legal and regulatory requirements, many of which are beyond the control of Signify. The dividend policy might be subject to change as the Board of Management may revisit Signify’s dividend policy from time to time.
The first dividend payment was distributed in 2017, based on full year 2016 results. At the 2017 AGM on May 9, 2017, shareholders voted in favor of the proposal to distribute a cash dividend of EUR 1.10 per share, against the net income for 2016 and free distributable reserves.