Stock market and shareholder base
Increased dividends despite market turmoil
The Shareholders’ General Meeting is an opportunity to talk to shareholders about the Group’s all-round performance – i.e. not only financial, but also social and environmental.
Mid-year change in performance
The VINCI share price posted a 12% decline over the full year, closing at €99.74 on 31 December 2024.
The share initially continued its growth trajectory from 2023, in financial markets mainly lifted by a phase of monetary easing by major central banks, robust company performance and the promise of future productivity gains brought about by a disruptive technology artificial intelligence. This positive setup led the VINCI share to close at a record high of €120.06 per share on 27 March 2024.
A sudden reversal occurred in June. The French president’s surprise decision to dissolve the National Assembly ushered in a period of deep political and budgetary uncertainty, spreading panic in French financial markets. Economic volatility, in Europe especially, and persistent geopolitical tensions in the Middle East and Ukraine further heightened investor anxiety.
In this unsettled environment, the VINCI share delivered the 25th best performance in the CAC 40 index, which slid 2% over the year.
At 31 December 2024, with a market capitalisation of €58 billion, the Group ranked 13th in the CAC 40.
A dividend of €4.75 per share and a yield of 4.8%
Considering VINCI’s very solid performance, despite macroeconomic headwinds and reigning uncertainty, and deeming the Group to be well equipped to continue its sustainable growth, the Board of Directors agreed on 6 February 2025 to propose a total dividend of €4.75 per share in respect of 2024 at the Shareholders’ General Meeting of 17 April 2025.
This dividend represents an increase over the previous year and a yield of 4.8% based on the share price at 31 December 2024. An interim dividend of €1.05 having been paid in October 2024, the final dividend payment on 24 April 2025, if approved at the Shareholders’ General Meeting, will be €3.70 per share.
Outstanding long-term performance
In the past 10 years, the VINCI share price has increased 119%, compared to 73% growth for the CAC 40 over the same period.
A VINCI shareholder who invested €1,000 on 31 December 2014 and reinvested all dividends received in VINCI shares would have had €2,967 on 31 December 2024, which represents an average annual return of 11.5% (versus an 8.8% return for the CAC 40).
A highly international and diversified shareholder base
At 31 December 2024, according to shareholder surveys, 74% of VINCI’s share capital was held by nearly 1,000 investment funds, located mainly in North America, the United Kingdom and France, but also continental Europe, the Middle East, Asia and Oceania. With 59% of its capital owned by non-French investment funds, the Group has a more international shareholder base than the CAC 40.
The Group’s employees are its biggest shareholder
Employee savings funds combine the investments of more than 170,000 former and current employees, of which more than 41,000 are based outside France. At 31 December 2024, these funds owned 10.9% of VINCI’s share capital, making employees the Group’s biggest shareholder. Worldwide, 40% of the Group’s employees own shares, a percentage that reaches 76% in France. This is thanks to the policy that the Group has promoted for some 30 years now, encouraging employees to become shareholders and partake in its success.
Individual shareholders hold 11.9% of VINCI’s share capital.
Treasury shares accounted for 3.3% of the Group’s share capital at 31 December 2024. They are held to cover long-term incentive plans and employee share ownership plans outside France, to be used as payment in external growth transactions, or to be sold or cancelled.