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Dividend policy: history and future

Dividend Hera paid in 2018: 9.5 euro cent

Dividend policy

Thanks to its regulated activities and the guarantee of visible prospective results, Hera has always been pursuing a stable / growing dividend policy, unique in the multi-utility sector.

 2017201620152014201320122011
Shares       
High (€)3.1122.6492.4482.1671.6681.341.773
Low (€)2.1611.8951.9301.6411.2050.9260.991
Share Price in € (at December, 31)2.9292.18772.44351.95231.64691.22361.096
Nominal value (€)1.01.01.01.01.01.01.0
N. of shares (mln)1,489.51,489.51,489.51,489.51,421.31,115.01,115.0
Market cap (bn€ at December, 31)4.3633.2593.6402.9082.3411.3641.222
EPS (€)0.1710.1410.1230.1110.1160.1060.094
Dividends       
DPS (€)0.0950.090.090.090.090.090.09
Dividend yield^3.2%4.1%3.7%4.6%5.5%7.4%8.2%
Coupon18-Jun19-Jun20-Jun22-Jun02-Jun03-Jun04-Jun
Payment20-Jun21-Jun22-Jun24-Jun05-Jun06-Jun07-Jun
Pay Out56%64%73%81%78%85%96%
Trading       
Average official price (€)2.6752.4182.2871.9841.4761.1331.406
Average daily volume (mln)2.2541.9282.2022.0991.4991.0721.321
Average daily trading (mln €)6.0544.6265.0544.1652.2131.2151.858
Total return (€)0.832(0.166)0.5810.3950.5130.218(0.372)
Total return (%)38.0%(6.8%)29.8%24.0%41.9%19.9%(23.88%)

* The above-mentioned 2004 amounts do not include distribution of the bonus share recognised to private shareholders who had held the shares for 12 months from the IPO date (26 June 2003).
^ DPS/Official price at 31 December
** Calculated on Hera net profit adjusted for "Fiscal moratorium"

 

Dividend history

Historical data

Since its foundation, dividends paid by the Group have been stable or growing.

State Street G.A. ha creato un paniere di titoli denominato "SPDR S&P Euro Dividend ARISTOCRATS UCITS ETF".

In this basket only 40 European equities are included, characterized by:

  • A track record of over 10 years of constant dividend payment
  • A stable/growing dividend in all the period

Hera share was included in SPDR S&P Euro Dividend ARISTOCRATS UCITS ETF in 2016

In this basket Hera ranked 10 at a global level, and FIRST in Italy

Future targets

Due to good cash generation, the Group expects a steady increase in financial soundness, with an improved satisfaction of our shareholders.

For this reason the last update of our business plan, disclosing strategy up to 2021, forecasts a dividend growing up to 10.5 euro cent at the end of the period.

Dividen policy uprise

 


On the basis of the expected earnings in 2017-21 Business Plan, the estimated yearly pay out ratio is above 60%.

Earing per share and dividend track record
IndexCagr.% 02-17201720162015201420132012
Earing per share (€)+9.8%0.1710.1410.1290.1110.1160.106
Dividend per share (€)+6.9%0.0950.090.090.090.090.09
 


Page updated 9 July 2018

 
 
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