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Dividend policy: history and future

Dividend Hera paid in 2019: 10 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.

2018201720162015201420132012
Shares       
High (€)3.0943.1122.6492.4482.1671.6681.34
Low (€)2.4042.1611.8951.9301.6411.2050.926
Share Price in € (at December, 31)2.6732.9292.18772.44351.95231.64691.2236
Nominal value (€)1.01.01.01.01.01.01.0
N. of shares (mln)1,489.51,489.51,489.51,489.51,489.51,421.31,115.0
Market cap (bn€ at December, 31)3,9824.3633.2593.6402.9082.3411.364
EPS (€)0.1920.1710.1410.1230.1110.1160.106
Dividends       
DPS (€)0.100.0950.090.090.090.090.09
Dividend yield^3.7%3.2%4.1%3.7%4.6%5.5%7.4%
Coupon24-Jun18-Jun19-Jun20-Jun22-Jun02-Jun03-Jun
Payment26-Jun20-Jun21-Jun22-Jun24-Jun05-Jun06-Jun
Pay Out52%56%64%73%81%78%85%
Trading       
Average official price (€)2.7592.6752.4182.2871.9841.4761.133
Average daily volume (mln)2.1332.2541.9282.2022.0991.4991.072
Average daily trading (mln €)5.9356.0544.6265.0544.1652.2131.215
Total return (€)(0.161)0.832(0.166)0.5810.3950.5130.218
Total return (%)(5.5%)38.0%(6.8%)29.8%24.0%41.9%19.9%

* 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. has created a basket of shares called "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

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 2022, forecasts a dividend growing up to 11 euro cent at the end of the period.

Dividen policy uprise

 


On the basis of the expected earnings in 2018-22 Business Plan, the estimated yearly pay out ratio is above 55%.

Earing per share and dividend track record
IndexCagr.% 02-182018201720162015201420132012
Earing per share (€)+10.0%0.1920.1710.1410.1290.1110.1160.106
Dividend per share (€)+6.8%0.100.0950.090.090.090.090.09
 


Page updated 12 July 2019

 
 
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