When the Accell Group share was listed on Euronext Amsterdam in October 1998, it was announced that Accell Group would pursue a stable dividend policy, aimed at paying out at least 40% of net profits. In 2013, the company paid out an optional dividend for 2012 of € 0.75 on each outstanding ordinary share. The payout ratio was 74% of net profit, and the dividend yield was 5.6% (based on the 2012 closing price).
Dividend for 2013
The shareholders will be asked at the General Meeting of Shareholders to approve payment of a dividend for 2013 of € 0.55 per share, optionally payable in cash or shares. The dividend yield based on the closing price at the end of 2013 will be 4.1%. The pay-out ratio for 2013 is 70% and is therefore higher than the average of 50% in previous years. An optional dividend makes it possible to operate a higher payout ratio while retaining a strong balance sheet for future acquisitions. Accell Group takes the view that this matches up perfectly with its growth strategy. As well as a high dividend yield for the shareholders, the optional dividend also improves the company’s solvency.The Board of Directors believes that this dividend yield and type of dividend compares favorably with other listed companies.