RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

5.12 DIVIDENDS

5.12.1 DIVIDENDS DECLARED Rubis has always pursued an active dividend payment policy for its shareholders, as illustrated by the dividend payout ratio over the past 5 years, which has represented an average of 59% of net earnings, Group share.

Total net amount paid out (in euros)

Net dividend distributed (in euros)

Fiscal year concerned

Number of shares concerned

Date of distribution

CSM 6/10/2009 OSM 6/10/2010 CSM 6/9/2011 CSM 6/7/2012 CSM 6/7/2013 CSM 6/5/2014 CSM 6/5/2015 CSM 6/9/2016 CSM 6/8/2017 OSM 6/7/2018 CSM 6/11/2019

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

10,295,269 11,042,591 14,534,985 30,431,861 33,326,488 37,516,780 38,889,996 43,324,068 45,605,599 95,050,942 (1) 97,185,200 (1)

2.65 2.85 3.05 1.67 1.84 1.95 2.05 2.42 2.68 1.50 1.59

27,282,463 31,471,384 44,331,704 50,821,208 61,320,738 73,157,721 79,724,492 104,844,245 122,223,005 142,574,358 154,522,276

(1) Of which 2,740 preferred shares eligible for only 50% of the net dividend paid out ( i.e. €0.75 in respect of 2017 and €0.79 in respect of 2018).

Note that two-for-one share splits were performed in both 2011 and 2017.

5.12.2 DIVIDEND PER BY-LAWS General Partners’ dividends are governed by Article 56 of the by-laws. For each fiscal period, the General Partners receive a dividend, which is calculated according to

the overall stock market performance of Rubis stock. This dividend is capped at a percentage of net income, Group share for the year.

In respect of 2019, the dividend amounts to €22,357 thousand (nil for 2018).

262 i Rubis 2019 Universal Registration Document