Dividend 2023

In accordance with the dividend policy, available on PostNL’s corporate website, 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.

The leverage ratio at the end of 2023 amounted to 1.7. This allows PostNL to propose a dividend of €0.09 per ordinary share for 2023 (2022: €0.16), based on normalised comprehensive income of €52 million for 2023 and a pay-out ratio of 80%. €0.06 was paid as an interim dividend, so the final dividend to be paid in May 2024 will be €0.03 per share. This will be proposed to the Annual General Meeting of Shareholders to be held on 16 April 2024.

The current dividend policy is to be applied on any profits over the financial year 2020 and subsequent years thereafter (until adjusted).