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Shareholder remuneration
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Financial policy
KPN’s shareholder remuneration policy is based on the financing principles that secure a solid balance sheet with a sufficient equity level, a net debt/EBITDA ratio between 2.0 and 2.5x and a growing dividend per share. This financial policy allows KPN to continue with its policy of accommodating an attractive dividend policy, whilst maintaining flexibility to grow and invest in its business.
Dividend policy
KPN accommodates an attractive dividend policy. KPN will pay a cash dividend of EUR 0.85 per share in respect of the year ending 31 December 2011, of which EUR 0.28 was paid out as an interim dividend in August 2011. The remaining part of EUR 0.57 per share has been paid in April 2012 following AGM approval.
KPN intends to pay a dividend per share of EUR 0.90 over the fiscal year 2012.
More information with regard to dividend history
Share repurchase program
KPN intends to return surplus cash to shareholders via share repurchases. Such repurchases will only be undertaken at a price, which enhances value for the remaining shareholders.
KPN repurchased EUR 1.0 billon in shares in 2011. All repurchased shares have been cancelled in 2011. There will be no share repurchase program in 2012.
