The main principle underlying the Boskalis dividend policy is to distribute 40% to 50% of the net profit from ordinary operations as dividend. In doing so, Boskalis aims to achieve a stable long-term 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 structure and the interests and wishes of the shareholders.

Given the robust balance sheet in setting the amount of the dividend for 2018 it was decided to adjust the net result for the extraordinary charges. At current share price levels the distribution of (part of) the dividend in shares and the resulting dilution is considered undesirable. The Supervisory Board of Boskalis will therefore propose to the Annual General Meeting of Shareholders on 8 May 2019 that a dividend of EUR 0.50 per ordinary share be distributed fully in cash, equal to nearly 80% of the net operating profit. 

The dividend will be made payable from 20 May 2019.

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Dividend history

2018 2017 2016 2015

2014

2013

Shares issued per YE (mln)

135.4 133.4 130.1 125.6

122.3

120.3

Net profit (mln euros)

82.8** 150.5 276.4* 440.2

490.3

365.7

Earnings per share  0.63** 1.15 2.16* 3.54 4.03 3.09

Dividend per share

0.5 1.00 1.00 1.60

1.60

1.24

Pay-out ratio

79% 87% 46% 45%

40%

40%

Policy

40 - 50 % 40 - 50% 40 - 50%  40 - 50%

40 - 50%

40 - 50%

Form

cash Stock/cash Stock/cash Stock/cash

Stock/cash

Stock/cash

Stock dividend:cash Not applicable 72:28 77:23 72:28 76:34 75:25

** Excluding extraordinary charges / impairments
* Excluding impairments

Financial calendar

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