In accordance with the dividend policy, adopted on 21 February 2020, PostNL aims to pay a dividend that develops substantially in line with operational performance. Dividend distribution is conditional on being properly financed in accordance with PostNL’s financial framework. PostNL is steering for a solid balance sheet with a positive consolidated equity, aiming at a leverage ratio (adjusted net debt/EBITDA) not exceeding 2.0 and applying strict cash flow management. The dividend pay-out ratio will be around 70% - 90% of normalised comprehensive income. Shareholders are offered a choice to opt for cash or shares. Dividend will be distributed twice a year, with interim dividend set at ~1/3 of dividend over the prior year.
Due to the financial performance in 2022, the leverage ratio at the end of 2022 amounted to 1.9. This allows PostNL to propose a dividend of €0.16 per ordinary share for 2022 (2021: €0.42), based on normalised comprehensive income of €90 million for 2022 and a pay-out ratio of 85%. €0.14 was paid as an interim dividend, so the final dividend to be paid in May 2023 will be €0.02 per share. This will be proposed to the Annual General Meeting of Shareholders to be held on 18 April 2023.
The current dividend policy is to be applied on any profits over the financial year 2020 and subsequent years thereafter (until adjusted). This policy is available on PostNL’s corporate website.
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