Dividend

Year Payment date Dividend per share (EUR) Dividends (EUR m) Payout ratio
2019(1)
2018 22.05.2019 0.30 17.7 32.5%
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.