Dividend policy

Uniper strives to strike a balance between attractive dividends for shareholders, the company's ability to invest, and balance-sheet stability. We want you to participate to a high degree in the company's success. For the 2016 to 2020 financial years, Uniper had set itself an average annual dividend growth target of 25% - based on a fixed dividend of around €200 million for the 2016 financial year.

For the 2019 financial year, the payout was increased to €421 million. This resulted in a dividend payment of €1.15 per share on dividend-bearing capital stock and corresponded to a 28% increase in the dividend compared with the prior year. This manifests the strong recovery in the operating business as well as the success of a strategy with ongoing portfolio optimization and the success of implemented cost-cutting programs.

Uniper aims to pay a dividend of €500 million for the 2020 financial year. Subject to the approval of the upcoming 2021 Annual General Meeting, this would even slightly exceed our dividend growth target.

We are pursuing the goal of increasingly investing the operating cash flows generated by Uniper in growth initiatives. In this way, we want to actively contribute in driving the energy evolution forward ('Empower Energy Evolution') and develop new future sources of earnings. At the same time, we want to continue to offer our shareholders attractive dividend prospects.

      FY 2016   FY 2017   FY 2018   FY 2019   FY 2020   
      Actual   Actual   Actual   Actual   Proposal  
 Dividend per share  in €   0.55   0.74   0.90   1.15   1.37  
 Dividend payment total  in €m   201   271   329   421   501  
 Adjusted Net Income (ANI) 1  in €m   n/a   n/a   n/a   614   774  
 Payout ratio  in %   n/a   n/a   n/a   61%   65%  
 Quote ex-dividend  Date   09 June 2017   07 June 2018   23 May 2019   21 May 2020   20 May 2021  
 Payment term  Date   13 June 2017   11 June 2018   27 May 2019   25 May 2020   24 May 2021  
 1 Uniper has newly introduced 'Adjusted Net Income' (consolidated net income after deducting minority interests, adjusted for non-operating effects), in the 2019 financial year.