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1. Since the Company’s privatization in December 1986: 12.4% per year:
of which:
+8.4% in share price gains
+4.0% in gross dividends (including the 50% avoir fiscal tax credit until 2004)
The calculation breaks down as follows:
- IPO price: FRF 310, or €11.81 per share (after the four-for-one stock split of June 27, 2002)
- payment of dividends in cash in 1987 and 1988
- reinvestment of dividends in shares between 1989 and 1997 inclusive
- payment of dividends in cash between 1998 and 2007 inclusive
- share price at December 29, 2007: €64.49
2. Over 10 years - from December 31, 1997 to December 31, 2007: 10.6% per year
of which:
+7.1% in share price gains
+3.5% in gross dividends (including the 50% avoir fiscal tax credit until 2004)
The calculation breaks down as follows:
- share price at December 31, 1996: FRF 734, or €27.97 per share (after the four-for-one stock split of June 27, 2002)
- reinvestment of dividends in shares in 1997
- payment of dividends in cash between 1998 and 2007 inclusive
- share price at December 31, 2007: €64.49
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