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Dividend 


Vallourec's dividend policy, as defined by the Group in 2003,

is to target an average payout ratio of around 33% over the long term. 


 

In euro

2013(2)

2012

2011

Earnings per share

2.1 1.8 3.40

Dividend per share

0.81 0.69 1.30

Pay-out ratio (1)

39.6% 39.7% 39.3%
 
(1) Pay-out ratio calculation based on the number of shares at 31 December
(the ratio excludes the exceptional distribution).
(2) Proposed dividend subject to approval by the General Meeting of Shareholders to be held on 28 May 2014.
 

 

Payment of dividend for the fiscal year 2013
   

Stage 1

3 June 2014
"Record date"
Until 3 June, Stock Exchange orders are executed with the right to the payment of dividends.

 

Stage 2

4 June 2014
"Ex-date"
Ex-dividend date.

 

Stage 3

 

From 4 to 17 June 2014
"Option period"
From 4 June to 17 June, you choose to receive the dividend in cash or shares and instruct your bank accordingly.

 

Stage 4

As from 25 June 2014

"Payment date" 
Dividend is paid to intermediary brokers.