Hermès - Registration Document 2016

INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL

DIVIDEND POLICY

DIVIDEND POLICY

7.4

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 amount of dividends paid in each of the financial years included in the historical financial information is shown on page 238. For the record, to distribute part of the large amount of cash available (more than a billion euros), an “exceptional” dividend of €5 was paid in 2012 and in 2015, as well as an “ordinary” dividend.

In view of the level of cash reached at the end of 2016, the Executive Management decided, for the sixth time, 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 divi- dends of Hermès International shares ceases is five years from the divi- dend payment date. After the five-year time limit expires, the Company pays over any unclaimed dividends to the tax centre to which it reports.

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2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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