2021 Universal Registration Document

COMMENTS ON THE YEAR

Dividends

DIVIDENDS 5.3.

The Board of Directors of SOCIÉTÉ BIC proposes the distribution of dividends primarily based on: company earnings; ● its investment policy; ●

BIC does not foresee a material change in this dividend distribution policy. At the Annual Shareholders’ Meeting on May 18, 2022, the Board of Directors will propose 2.15 euros of Ordinary Dividend per share for 2021. The Dividend pay-out ratio was 87% in 2021 and 63% in 2020.

balance sheet strength; as well as ● comparisons with industry peers. ●

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)

2021

1.80

87%

2020

2.45

63%

2019

3.45

91%

197

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •