HERMÈS - 2019 Universal Registration Document

INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL DIVIDEND POLICY

DIVIDEND POLICY

7.3

During the General Meeting of 24 April 2020, it will be proposed to set the dividend at €5.00 per share. In view of the level of cash reached at the end of 2019, the Executive Management decided to pay an interim dividend of €1.50 per share. In future, the Executive Management will decide case by case, given the situation of the Group and its prospects, whether it is appropriate to pay interim dividends before the General Meeting. In accordance with the law, the time limit after which entitlement to dividends of Hermès International shares ceases is five years from the dividend payment date. After the five-year time limit expires, the Company pays over any unclaimed dividends to the tax centre to which it reports.

Subject to the investments needed for the Company’s development and the corresponding financing requirements, the Company’s current intention is to continue the “ordinary” dividend policy it has conducted over the past several years. The amounts of dividends paid in each of the financial years included in the historical financial information are shown on page 367. You are reminded that, in order to distribute part of the large amount of cash available, an “exceptional” dividend of €5.00 was paid in 2012, 2015 and 2018, in addition to the “ordinary” dividend.

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2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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