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It is the intention of the Management Board of SFD S.A. to recommend to the General Meeting dividend payments in line with profitability and financial capacity, at a level of no less than 20% of SFD S.A.’s net profit for a given financial year. 

The Board of Directors of SFD S.A. seeks to manage capital efficiently and maximise the return on capital for shareholders, in particular while maintaining a level of safety. Each time, the Management Board will take into account, among other factors, investment and liquidity needs when making the final determination of the dividend to be recommended to the General Meeting. 

The dividend will be paid annually, after the General Meeting has approved the Company’s financial statements.