In the third resolution, shareholders are invited to approve the Board’s recommended appropriation of net income for Fiscal 2020.
To protect the balance sheet given the severity of the Covid-19 downturn in activity, and the uncertainty as to the timing of recovery, and in solidarity with the teams, the Board has decided to propose to the shareholders not to distribute a dividend for Fiscal 2020, and therefore, no dividend premium for Fiscal 2020.
Consequently, shareholders are invited to appropriate the full amount of net income for Fiscal 2020 – totaling 221,090,476 euro to retained earnings .
(APPROPRIATION OF NET INCOME FOR FISCAL 2020)
In accordance with the proposal made by the Board of Directors, the Shareholders Meeting, acting under the rules of quorum and majority applicable to Ordinary Shareholders Meetings, resolves to appropriate the full amount of net income for Fiscal 2020 of 221,090,476 euro to retained earnings.
The Shareholders Meeting notes that following this appropriation of net income, retained earnings – which amounted to 1,470,676,528 euro as of August 31, 2020 – now totals 1,691,767,004 euro.
In accordance with article 243 bis of the French General Tax Code, dividends paid for the last three fiscal years were as follows:
| FISCAL 2019 (PAID IN 2020) | FISCAL 2018 (PAID IN 2019) | FISCAL 2017 (PAID IN 2018) | |
|---|---|---|---|
| Dividend per share* | Dividend per share *FISCAL 2019 (PAID IN 2020) €2.90 | Dividend per share *FISCAL 2018 (PAID IN 2019) €2.75 | Dividend per share *FISCAL 2017 (PAID IN 2018) €2.75 |
| Total payout | Total payout FISCAL 2019 (PAID IN 2020) €425,069,235 | Total payout FISCAL 2018 (PAID IN 2019) €402,512,000 | Total payout FISCAL 2017 (PAID IN 2018) €410,658,908 |
* Dividend fully eligible for the 40% allowance applicable to individuals who are tax resident in France, as provided for in article 158-3 2° of the French General Tax Code.
