BIC - 2020 Universal Registration Document

COMMENTS ON THE YEAR

Dividends

DIVIDENDS 5.3.

The Board of Directors of SOCIÉTÉ BIC proposes the distribution of dividends primarily as a function of the Company’s earnings, its investment policy, and balance sheet strength, as well as comparisons with peer companies in the same sector. BIC does not foresee a material change in this dividend distribution policy.

The Board of Directors will propose 1.80 euro of Ordinary Dividend per share for 2020 fiscal year at the Annual Shareholders’ Meeting on May 19, 2021. The Dividend pay-out ratio was 69% in 2020.

The dividends paid for the last three fiscal years were as follows:

Net ordinary dividend divided by earnings per share* (pay-out ratio)

Net ordinary dividend (in euros)

2020

2.45

69%

2019

3.45

63%

2018

3.45

91%

Net ordinary dividend divided by Normalized earnings per share. *

206

• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •