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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.

 2019201820172016201520142013
Shares       
High (€)4.0403.0943.1122.6492.4482.1671.668
Low (€)2.6852.4042.1611.8951.9301.6411.205
Share Price in € (at December, 31)3.9092.6732.9292.18772.44351.95231.6469
Nominal value (€)1.01.01.01.01.01.01.0
N. of shares (mln)1,489.51,489.51,489.51,489.51,489.51,489.51,421.3
Market cap (bn€ at December, 31)5.8223.9824.3633.2593.6402.9082.341
EPS (€)0.2620.1920.1710.1410.1230.1110.116
Dividends       
DPS (€)0.100.100.0950.090.090.090.09
Dividend yield^2.6%3.7%3.2%4.1%3.7%4.6%5.5%
Coupon06/07/202024-Jun18-Jun19-Jun20-Jun22-Jun02-Jun
Payment07/07/202026-Jun20-Jun21-Jun22-Jun24-Jun05-Jun
Pay Out38%52%56%64%73%81%78%
Trading       
Average official price (€)3.3982.7592.6752.4182.2871.9841.476
Average daily volume (mln)3.4252.1332.2541.9282.2022.0991.499
Average daily trading (mln €)11.5255.9356.0544.6265.0544.1652.213
Total return (€)1.336(0.161)0.832(0.166)0.5810.3950.513
Total return (%)50.0%(5.5%)38.0%(6.8%)29.8%24.0%41.9%

* 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

In order to guarantee higher visibility for its shareholders as regards future dividends, Hera has decided to pursue a dividend policy that expects dividends to rise until 2023, reaching 12 euro cents.

 
Dividend policy


Based on the income foreseen by the 2019-2023 business plan, the payout ratio is expected to reach roughly 50% over the entire period covered by the plan.

Earing per share and dividend track record
IndexCagr.% 02-192019201820172016201520142013
Earing per share (€)+11.4%0.2620.1920.1710.1410.1290.1110.116
Dividend per share (€)+6.4%0.100.100.0950.090.090.090.09
 


Page updated 4 May 2020

 
 
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