Getlink maintains and reinforces its dividend policy which is determined by the Board of Directors. It takes into account the Group's investment needs, the economic context and other facts deemed relevant.
The Board of Directors of Getlink has decided, as a matter of prudence and in view of the general trend, not to propose at its Annual General Meeting the payment of the 2020 dividend in respect of the 2019 financial year.
The proposed previously announced dividend of €0.41 per share reflected Getlink’s sound performance in 2019. The dividend payment would have represented a cash outflow of approximately €225.5M in May 2020.
With available cash flow of €573 million, the Group would have been in a position to honour its dividend while maintaining sufficient liquidity to service its debt and cope with the current situation. Nevertheless, in a spirit of responsibility towards all Getlink stakeholders, this decision aims to preserve the Group’s resources in order to ensure the protection of its employees, maintain business continuity and ensure liquidity against the backdrop of a crisis which is still unfolding. The Group confirms that it could consider additional funding facilities up to €700M in the future if necessary.
Depending on the evolution of the overall situation and the applicable legal and regulatory provisions, the Board of Directors reserves the option of proposing the distribution to shareholders of an interim dividend on the 2020 results.
In April 2020, the total return to Getlink’s shareholders (dividends and share buybacks) amounts to €1.2Bn since the 1st distribution in 2008.
Growth in dividend since the 1st payment
The French 2018 Finance Act introduced a mandatory deduction on account which will be levied at a rate of 12.8% on dividends for private individuals who are French tax residents. An exemption is available to households where the reference taxable income is lower than €50,000 (for a single person) or €75,000 (couples subject to joint taxation) for the penultimate year preceding the year in which the income is received, by making a request, accompanied by a sworn statement, to their bank by November 30 of the year prior to the receipt of the income at the latest.
For registered shareholders (for French tax residents only)
For bearer shareholders
Please contact your financial intermediary or financial adviser.