Vallourec’s dividend policy, as defined by the Group in 2003, is, over the long term, to distribute on average 33% of its consolidated net income, Group share.

In euros




Earnings per share




Dividend per share




Pay-out ratio(1)




(1​) The payout ratio is calculated based on the total number of shares outstanding as at 31 December

On 12 May 2017, the Shareholders’ Meeting decided not to pay a dividend in respect of the 2016 results. 

The average payout ratio of the last five years is 24.7%.


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