QUADIENT - 2019 Universal Registration Document

3 MANAGEMENT REPORT

Review of Quadient's financial position and results in 2019

3.1.12

DIVIDEND

Given the uncertainties associated with the magnitude and duration of the COVID-19 pandemic, the Board of Directors will make a decision by the end of May for the dividend proposal related to the 2019 financial year, which will then be submitted to the approval of shareholders at the General Meeting.

As part of its “Back to Growth” strategy, Quadient growth ambitions partly rely on its ability to close some bolt-on acquisitions that will be designed to accelerate the Group’s transformation. To reach its objectives, Quadient need to gain flexibility in its capital allocation. The Group has therefore decided to adapt its shareholder return policy and to set its annual pay-out ratio at a minimum of 20 % of the Group attributable net income with the minimum annual dividend set at an absolute floor of EUR 0.50 per share.

Date (a) of the interim dividend

Amount of the interim dividend

Date (a) of the balance of the dividend

Amount of the balance of the dividend

Amount of the full year dividend

2018

-

-

06/08/2019

-

EUR 0.53

2017

06/02/2018

EUR 0.80 07/08/2018

EUR 0.90

EUR 1.70

2016

07/02/2017

EUR 0.80 08/08/2017

EUR 0.90

EUR 1.70

2015

09/02/2016

EUR 0.80 09/08/2016

EUR 0.90

EUR 1.70

2014

10/02/2015

EUR 1.80 06/08/2015

EUR 2.10

EUR 3.90

(a)

Payment date

3.1.13

SHARE BUYBACK PROGRAM

A share buyback program involving a maximum of 10 % of the issued share capital at a maximum purchase price of 50 euros could be presented for approval to the Annual General Meeting to be held on July 6, 2020.

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UNIVERSAL REGISTRATION DOCUMENT 2019