Dividend payment & policy

Dividend policy

 
BinckBank’s authorised share capital consists of ordinary shares and (50) priority shares, each of a nominal value of € 0.10. The priority shares are registered, unlisted and held by Stichting Prioriteit Binck (‘the Stichting Prioriteit’). BinckBank’s articles of association state that – if and to the extent that profit permits – a sum of six percent (6%) of the nominal value of the priority shares will be distributed in respect of these shares (50 x € 0.10 x 6%). The Stichting Prioriteit then determines the portion of the remaining profit which will be transferred to the reserves. The profit remaining after this addition to the reserves is at the disposal of the General Meeting. Any amounts not distributed to shareholders will be added to BinckBank’s reserves. The executive board of BinckBank is authorised to resolve that BinckBank will pay an interim dividend subject to the prior approval of the Stichting Prioriteit.

BinckBank applies the following when making dividend distributions:

  • Sustainability and prudence are preconditions for making dividend distributions and for determining the level and form of such distributions.
  • Dividend distributions must comply with the applicable laws and regulations (including the requirements of the European Central Bank (‘ECB’) and De Nederlandsche Bank (‘DNB’)).
  • Dividend distributions must be responsible – from the perspective of sustainability and prudence – in the judgement of BinckBank based on the solvency position and economic outlook.
  • If a dividend distribution is proposed to the general meeting, BinckBank will aim for a payout ratio of 50% of the adjusted net profit.
  • Dividend distributions take place in cash and are declared payable no later than 14 days after the resolution is adopted.
  • Interim dividends are paid from profit in the current financial year.
  • BinckBank continually assesses its reserves and dividend policy and discusses it annually as a separate agenda item at the General Meeting.
 
Dividend 2016  2015  2014  2013  2012 
Dividend per share € 0.23  € 0.39  € 0.41 € 0.39 € 0.45
Dividend yield    4,20 %    4.90 %    5.80 %    5.10 %    7.20 %


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