At the 13 April 2023 Shareholders’ General Meeting, shareholders approved a dividend payment of €4.00 per share with respect to 2022. An interim dividend of €1.00 per share was paid in November 2022 and the final dividend of €3.00 per share was paid in cash on 27 April 2023.
On 16 November 2023, VINCI proceeded with the payment of an interim dividend of €1.05 in respect of 2023. A total dividend of €4.50 will be submitted for approval at the Shareholders’ General Meeting to be held on 9 April 2024, with the final dividend of €3.45 to be paid on 25 April 2024 (see Note N.33, “Appropriation of 2023 net income”).
Dividends paid by VINCI SA to its shareholders in respect of 2023 and 2022 break down as follows:
| non-inclus | 2023 | 2022 |
|---|---|---|
| Dividend per share (in €) | ||
| Interim dividend | 1.05 | 1.00 |
| Final dividend | 3.45 (*) | 3.00 |
| Net total dividend | 4.50 | 4.00 |
| Amount of dividend (in € millions) | ||
| Interim dividend | 599 | 565 |
| Final dividend | 1,970 (**) | 1,694 |
| Net total dividend | 2,569 | 2,259 |
(*) Submitted for approval at the Shareholders’ General Meeting of 9 April 2024.
(**) Estimate based on the number of shares with dividend entitlement at 7 February 2024, i.e. 571,002,785 shares.
Bonds, other loans and financial debt are recognised at amortised cost using the effective interest method. The effective interest rate is determined after taking account of redemption premiums and issuance expenses. Under this method, the interest expense is measured actuarially and reported under the cost of gross financial debt.
The economic benefit of a loan at a significantly below-market rate of interest, which is the case in particular for project finance granted by public sector organisations, is treated as a government grant and recognised as a reduction of the debt and the related investments, in accordance with IAS 20.
Certain financing contracts provide for early redemption options, for amounts that are always close to the amortised cost of the financial liabilities that are recognised as a result. Consequently, the Group does not recognise any derivative financial instrument separately from the original contracts.
The part at less than one year of borrowings is included in “Current borrowings”.
