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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
271
INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL
7
DIVIDEND POLICY
7.4
DIVIDEND POLICY
Subject to the investments needed for the Company’s development
and the corresponding financing requirements, the Company’s current
intention is to continue the “ordinary” dividend policy it has conducted
over the past several years. The amount of dividends paid in each of the
financial years included in the historical financial information is shown
on page 238.
For the record, to distribute part of the large amount of cash available
(more than a billion euros), an “exceptional” dividend of €5 was paid
in 2012 and in 2015, as well as an “ordinary” dividend.
In view of the level of cash reached at the end of 2016, the Executive
Management decided, for the sixth time, to pay an interim dividend of
€1.50 per share. In future, the Executive Management will decide case
by case, given the situation of the Group and its prospects, whether it
is appropriate to pay interim dividends before the General Meeting. In
accordance with the law, the time limit after which entitlement to divi-
dends of Hermès International shares ceases is five years from the divi-
dend payment date. After the five-year time limit expires, the Company
pays over any unclaimed dividends to the tax centre to which it reports.