In the third resolution, shareholders are invited to approve the Board’s recommended appropriation of net income and the payment of a dividend of 2,70 euros per share for the fiscal year ended August 31, 2025, that represents a payout ratio on underlying net profit of 50%, in line with the Group dividend policy.
In accordance with the Company’s bylaws, shares that have been held in registered form for at least four (4) years, i.e. since at least August 31, 2021, and that are still held in such form when the dividend for Fiscal 2025 is paid, will automatically be entitled to a 10% dividend premium, representing an additional 0,27 euro per share. Where necessary, the amount of the dividend plus the premium will be rounded down to the nearest euro cent. The number of shares eligible for the dividend premium may not represent over 0.5% of the share capital for any single shareholder (corresponding to a maximum of 737,274 shares per shareholder based on the Company’s share capital as of August 31, 2025).
The dividend payment schedule is as follows:
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 allocate net income for Fiscal | €776 625 679 |
|---|---|
| plus retained earnings as of the close of Fiscal 2025 of | €1 895 028 392 |
| Making a total available for distribution of | €2 671 654 071 |
| In the following manner: | |
|
dividend of 2,70 euros per share (on the basis of 147,454,887 shares comprising the share capital as of August 31, 2025) |
€398 128 195 |
|
a 10% dividend premium (on the basis of 8 292 556 shares held in registered form as of August 31, 2025* that are eligible for the dividend premium after application of the limit of 0.5% of capital per shareholder) |
€2 238 990 |
|
retained earnings |
€2 271 286 886 |
| Total | €2 671 654 071 |
Consequently, the Shareholders Meeting resolves to pay a dividend of 2,70 euros for the fiscal year ended August 31, 2025 on each of the Company’s shares eligible for the dividend.
In accordance with article 17-3(b) of the Company’s bylaws, shares held in registered form since at least August 31, 2021 and which are still in such form when the dividend is paid, i.e., on December 23, 2025, will automatically be eligible for a 10% dividend premium, representing an additional 0,27 euros per share. The number of shares eligible for this dividend premium may not represent over 0.5% of the share capital for any single shareholder (corresponding to a maximum of 737,274 shares per shareholder based on the Company’s share capital as of August 31, 2025).
The dividend of 2,70 euros per share and the dividend premium for the shares benefiting from it will be negotiated ex-dividend from the share on December 19, 2025 at midnight (Paris time) and paid on December 23, 2025.
In the event that the Company holds any of its own shares on the payment date, the dividend due on these shares will not be paid and will instead be transferred to retained earnings.
Similarly, if any of the 8,292,556 shares held in registered form that are eligible for the cash dividend premium as of August 31, 2025 are no longer recorded in registered form between September 1, 2025 and December 23, 2025 (the dividend payment date), the amount of the dividend premium due on such shares will not be paid and will instead be transferred to retained earnings.
In accordance with article 243 bis of the French General Tax Code, it is specified that the dividend of 2,70 euros per share (including the cash dividend premium) will be eligible for the allowance of 40% provided for in article 158-3 2° of said Code for individuals domiciled for tax purposes in France, if they have opted for their overall income to be taxed based on the sliding income tax scale provided for in paragraph 2 of article 200 A of the French General Tax Code.
The Shareholders Meeting notes that dividends paid for the last three fiscal years were as follows:
| FISCAL 2024 (PAID IN 2024) | FISCAL 2023 (PAID IN 2023) | FISCAL 2022 (PAID IN 2022) | |
|---|---|---|---|
| Dividend per share* | Dividend per share* FISCAL 2024 (PAID IN 2024) **€8.89 |
Dividend per share* FISCAL 2023 (PAID IN 2023) €3.10 |
Dividend per share* FISCAL 2022 (PAID IN 2022) €2.40 |
| Total payout | Total payout FISCAL 2024 (PAID IN 2024) €1,304,299,476 |
Total payout FISCAL 2023 (PAID IN 2023) €457,110,150 |
Total payout FISCAL 2022 (PAID IN 2022) €352,450,227 |
