Dividend
The Group has a historic dividend distribution policy that ensures a balance between the investments required for its development and the distribution of profits to shareholders.

Dividend payment policy

The payout ratio is approximately 35%. This ratio is defined as:
Dividend per share × Outstanding shares at December 31st / Net profit (Group share)
Where exceptional items have been recognized, in particular non-cash items, net profit (Group share) may be restated for these items before applying the payout ratio.

Dividend for last fiscal year

A dividend payment of €1.70 per share is proposed for fiscal year 2018, the same amount as the fiscal year 2017.
Based on 167,293,730 shares outstanding at December 31, 2018, the total Capgemini dividend distribution in respect of fiscal year 2018 would be €284 million.
The payout ratio for the year ended December 31, 2018, excluding non- recurring income or tax expenses, would be 36%.
The effective dividend distribution will depend on the number of treasury shares held at the ex-dividend date and any shares issued or cancelled prior to this date.

Dividend history

In the table below, the dividend payable in the current year is subject to the approval of the general meeting.

Fiscal year
(ended December 31)
Dividend distribution Number of shares

(at December 31)

Dividend
per share(in euro)
Ex-dividend date
in € million in % of
net profit
2012 162 44% 161,700,362 1.00 June 3, 2013
2013 176 40% 160,317,818 1.10 May 16, 2014
2014 196 34% 163,592,949 1.20 May 18, 2015
2015 232 36% 172,181,500 1.35 May 30, 2016
2016 266 36% 171,564,265 1.55 May 22, 2017
2017 286 35% 168,483,742 1.70 June 4, 2018
2018 284 36 % 167,293,730 1.70 June 5, 2019