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 2012, the company paid out an optional dividend for 2011 of € 0.92 on each outstanding ordinary share. The payout ratio was 48% of net profit, and the dividend yield was 6.5% (based on the 2011 closing price). Upon expiry of the optional period, it transpired that 48% of Accell Group shareholders had once again opted for a stock dividend. This percentage confirms shareholder confidence in Accell Group and also contributes to the strengthening of the company’s shareholder’s equity, which is an important basis for the company’s continued growth.
Dividend for 2012
The shareholders will be asked at the General Meeting of Shareholders to approve payment of a dividend for 2012 of € 0.75 per share, optionally payable in cash or shares. The dividend yield based on the closing price at the end of 2012 will be 5.6%. The pay-out ratio for 2012 is 74% and is therefore higher than the average of 48% 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.