Dividends

Galp aims to create value for its stakeholders The General Shareholders’ Meeting approved a dividend of €0.55/sh related to 2017.

Considering cash flow generation in 2017 and the Company’s solid capital structure, the General Shareholders’ Meeting, held on May 15 2018, approved a cash dividend of €0.55 per share related to 2017, corresponding to a 10% YoY dividend increase.

It is worth noting the payment of an interim dividend approved by the Board of Directors of €0.275 per share in September 2018. 

Galp will continue to ensure it has the capital required to implement the planned investment programme, which is critical to the success of the strategic execution. Dividend distribution will continue to be dependent on cash flow generation, value accretive investment opportunities and financial discipline.

 

Evolution of dividend distribution in recent years (€/share)

Note: In 2006, the general shareholders meeting decided to pay an extraordinary dividend of €1.05/share considering the sale of regulated natural gas assets.

Dividend distribution

Year Resolution by Resolution on €/share Payment Press release
2018 Interim Board of Directors 24 Aug 2018 0.275 20 Sep 2018 See
2017   General meeting 15 May 2018 0.55    
 Final     0.30 30 May 2018 See
Interim     0.25 21 Sep 2017 See
2016   General meeting 12 May 2017 0.4977    
 Final - - 0.2488 30 May 2017 See
 Interim - - 0.2488 26 Sep 2016 See
2015   General meeting 5 May 2016 0.4147    
 Final - - 0.2074 27 May 2016 See
 Interim - - 0.2074 24 Sep 2015 See
2014   General meeting 16 April 2015 0.3456   See
 Final - - 0.1728 12 May 2015 See
 Interim - - 0.1728 18 Sep 2014 See
2013   General meeting 28 April 2014 0.288   See
Final - - 0.144 22 May 2014 See
Interim - - 0.144 18 Sep 2013 See
2012   General meeting 22 April 2013 0.24   See
 Final - - 0.12 16 May 2013 See
Interim - - 0.12 18 Sep 2012 See
2011   General meeting       See
 Final - 07 April 2012 0.20 24 May 2012 See
2010   General meeting 30 April 2011 0.20   See
 Final - - 0.14 28 Jun 2011 See
 Interim - - 0.06 23 Sep 2010 See
2009   General meeting 26 April 2010 0.20   See
 Final - - 0.14 20 May 2010 See
 Interim - - 0.06 22 Oct 2009 See
2008   General meeting 27 April 2009 0.32   See
 Final - - 0.1704 25 May 2009 See
Interim - - 0.1497 22 Oct 2008 See
2007   General meeting 06 May 2008 0.32   See
Final - - 0.1680 29 May 2008 See
 Interim - - 0.1520 07 Nov 2007 See
2006   General meeting 28 May 2007 0.304 19 Jun 2007 See
2006   General meeting ¹ 31 Aug 2006 1.050 29 Sep 2006 n.a.
Stock split de 5:1 em 31/05/2006
2005   General meeting n.a. 1.34 n.a. n.a.
2004   General meeting n.a. 1.00 23 Jun 2005 n.a.
2003   General meeting 27 May 2004 0.56 n.a. n.a.

Extraordinary Dividend

Key dividend indicators

Year Total dividend (€m) Dividend per share ¹ (€) Payout ratio (%) Dividend yield ² (%) Number of shares at 31 Dec
2016 413 0.50 86% 3.50% 829,250,635
2015 344 0.41 54% 4.00% 829,250,635
2014 287 0.35 77% 4.00% 829,250,635
2013 240 0.29 77% 2.00% 829,250,635
2012 199 0.24 63% 2.00% 829,250,635
2011 166 0.20 73% 1.80% 829,250,635
2010 166 0.20 58% 1.40% 829,250,635
2009 166 0.20 89% 1.70% 829,250,635
2008 265 0.32 56% 4.50% 829,250,635
2007 265 0.32 60% 1.70% 829,250,635
2006 252 0.30 56% 4.30% 829,250,635
2006 – extraordinary dividend 871 1.05 n.m. n.m. 829,250,635
2005 224 0.27 48% n.a. 165,850,127
2004 166 0.20 50% n.a. 33,170,025
2003 91 0.11 55% n.a. 6,634,005

¹ The dividends from 2003 to 2005 are adjusted to the stock split made in 2006

² Based on the share price at the last day of the year

Changes in equity

  • 23 October 2006 - Galp's shares start being traded on NYSE Euronext Lisbon at a price of €5.81/share.
  • 31 May 2006 - Each old share is replaced by five new shares, i.e. a 5:1 stock split is done.