Dividend

Year Payment date Dividend per share (EUR) Dividends (EUR m) Payout ratio
2020(2) 01.06.2021 0.18 10.6 25.6%
2019(1)
2018 22.05.2019 0.30 17.7 32.4%
2017 28.05.2018 0.27 15.9 33.1%
2016 22.05.2017 0.38 20.3 33.4%
2015 21.06.2016 0.40 20.3 33.1%
2014 26.06.2015 0.20 10.2 20.2%
2013 30.05.2014 0.20 10.2 26.1%

Subject to the approval by the general shareholders’ meeting, ProCredit targets a dividend payout ratio of one third of the previous year’s annual consolidated profit after tax.

Notes:
(1) No dividend was distributed to shareholders from the profits of the financial year 2019 due to the recommendations of the regulatory authorities in regards to the Covid-19 Pandemic prevailing in 2020. We continue to deduct one-third of the consolidated results for 2019 for dividend purposes. More information
here.

(2) In agreement with the Supervisory Board, the Management Board also intends to propose a further dividend distribution of EUR 0.35 per share no later than 31 December 2021 at an Extraordinary General Meeting which may be convened for this purpose, provided that neither the German Federal Financial Supervisory Authority nor the European Central Bank has issued any communication which precludes such a proposal. In the event that the second planned dividend is also paid out, the total distribution would correspond to one third of the cumulative consolidated results of the financial years 2019 and 2020 and thus conform to the dividend policy of ProCredit Holding. More information here.