The main principle underlying the Boskalis dividend policy is to distribute 40% to 50% of the net result from ordinary operations as dividend. In doing so, Boskalis aims to achieve a stable development of the dividend to its shareholders. The choice of dividend form (cash or shares or a combination of the two) takes into account the company’s desired balance sheet ratios and the interests and wishes of its shareholders.

On 8 March 2017 it has been published that the Supervisory Board will recommend to the Annual General Meeting of Shareholders the distribution to shareholders of a dividend of EUR 1.00 per ordinary share to be paid in ordinary shares, unless the shareholder opts to receive a cash dividend.

In determining the dividend for 2016 it was decided to adjust the net result for the non-cash impairment charges.

Dividend history

2016 2015

2014

2013

2012

2011

Shares issued per YE (mln)

130.1 125.6

122.3

120.3

107.3

103.5

Net profit (mln euros)

276.4* 440.2

490.3

365.7

249

254.3

Earnings per share  2.16* 3.54 4.03 3.09 2.36 2.48

Dividend per share

1.00** 1.6

1.6

1.24

1.24

1.24

Pay-out ratio

46% 46%

40%

41%

58%

50%

Policy

40 - 50%  40 - 50%

40 - 50%

40 - 50%

40 - 50%

40 - 50%

Form

Stock/cash Stock/cash

Stock/cash

Stock/cash

Stock/cash

Stock/cash

Stock dividend:cash 72:38 76:34 75:25 70:30 70:30

* Excluding impairments

** Proposed

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Financial calendar

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