The Board of Directors is responsible for making a dividend recommendation for approval at the annual shareholders’ meeting. When determining the recommended dividend for any given year, AXA strives to reconcile the needs of prudent capital management, reinvestment of previous results to support its business development, and, of course, the dividend’s attractiveness to the shareholders.
Since the beginning of the Covid-19 pandemic crisis, AXA has been engaged alongside all of its stakeholders and took exceptional measures to support those who have been most impacted by the crisis. Regarding dividend distribution for 2019 fiscal year, AXA wants to show the same solidarity and stay by its commitments towards its shareholders while being cautious in the current context.
Following recent communications from the European Insurance and Occupational Pensions Authority (“EIOPA”) and the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”), relating to the adoption of a prudent approach towards dividend distributions during the Covid-19 pandemic, AXA’s Board of Directors decided to reduce its dividend proposal for 2019 fiscal year, from Euro 1.43 per share to Euro 0.73 per share. This proposal has been approved by shareholders at AXA’s Annual General Meeting on June 30, 2020 and dividend has been paid on July 9, 2020.
The Board may consider proposing an additional payment to shareholders in 4Q 2020, up to Euro 0.70 per share, as an exceptional distribution of reserves, subject to favorable market and regulatory conditions at that time. In the event that the Board decides to propose an additional payment, the proposal would then be subject to approval by shareholders at an adhoc General Meeting.
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|Year||Pay out Date||Dividend per share in Euro|
|---||Division of the share per value by 4 (b)||---|
|---||Division of the share per value by 5 (d)||---|