The Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora, established the current dividend policy in August 2019. It implies that, barring exceptional circumstances, 90% of the distributable recurring result for the financial year (i.e. after adjustment for any exceptional results and after the compulsory formation of the legal reserve) will be paid out as (interim) dividend.
This dividend policy has significantly contributed to the gradual debt reduction in recent years. After the full repayment of the financial debts, the Board of Directors will decide annually how the funds not distributed as dividends will be used.
In principle (subject to changed circumstances), the Board of Directors will opt for the repurchase of own shares, after establishing a liquidity buffer to cover expected operating expenses for three financial years.
It should be noted, however, that:
The historical evolution of the KBC Ancora dividend.
