Dividend

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

​2015

2​014

2013

Earnings per share

(6.6)

(7.3)​​​

2.1

Dividend per share

-

0.81

​0.81

Pay-out ratio(1)

-

​44.3%​

39.6%​

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

On 6 April 2016, the Shareholders’ Meeting decided not to pay a dividend in respect of the 2015 results. 

The average payout ratio of the last five years is 32.6%.

 

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