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26 Nov 2020 17:06
PRESS RELEASE
November 26, 2020
SHAREHOLDER RETURN POLICY
As announced in April of this year, the Board of Directors has reviewed the Group's shareholder return policy.
Based on the sales and results growth in the third quarter and the good start to the fourth quarter, the Group's operating income for second-half 2020 will increase on a like-for-like basis compared to second-half 2019.
In view of these results, the Board intends to recommend to the June 3, 2021 Shareholders' Meeting that it sets the dividend in respect of 2020 - payable in June 2021 - at €1.33 per share to be paid in cash, i.e., at the level of the dividend paid in June 2019.
The Board of Directors has moreover confirmed that it will maintain its policy of privileging a dividend in cash targeting a normalized dividend payout rate representing between 35% and 40% of recurring net income, a rate that will be exceeded for the dividend payable in respect of 2020.
The Group also announces that it has reached its medium-term objective of a reduction in the number of shares outstanding to 530 million, from 542 million at December 31, 2019.
ABOUT SAINT-GOBAIN
Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.
€42.6 billion in sales in 2019Operates in 70 countriesMore than 170,000 employees
For more information about Saint-Gobain
Visit www.saint-gobain.com
and follow us on Twitter @saintgobain
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