Dividend policy

Uniper strives for a healthy balance between shareholder dividends, the company’s ability to make investments and balance sheet stability.

We want you to participate in the success of the company to a high degree.
Previously, Uniper's dividend payment target had been a payout ratio of at least 75% and up to 100% of free cash flow from operations (FCfO). FCfO is calculated by deducting the cash outflows for capital expenditures on fixed assets related to replacement purchases and maintenance from adjusted FFO.

For the financial years 2016 to 2020, Uniper has set itself the target of an average annual dividend growth of 25%, based on a fixed dividend of around €200 million for the 2016 financial year.

For fiscal year 2019, the Annual General Meeting on May 20, 2020 approved the proposal of the Executive Board and Supervisory Board to use the unappropriated net income to pay a dividend of €421 million and thus a dividend of €1.15 per share on the dividend-bearing capital stock. This represents a 28% increase in the dividend compared with the previous year. Uniper thus exceeded the communicated dividend target for the third year in succession.

The dividend volume has thus more than doubled within three years. This reflects 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.

In the future, the FCfO-based dividend policy will be replaced by an absolute dividend payment. Uniper aims to pay a dividend of € 500 million for the 2020 financial year. Our ambition is to further increase the dividend over time.

Our goal is to invest more of the operating cash flows generated by Uniper in growth. In doing so, we want to help drive the energy evolution ('Empower Energy Evolution') and develop new sources of future 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 E  
      Actual   Actual   Actual   Actual   Ambition  
 Dividend per share  in €   0.55   0.74   0.90   1.15   1.37  
 Dividend payment total  in €m   201   271   329   421   501  
 Free Cash from Operations (FCfO)  in €m   128   361   431   562   -  
 Payout ratio  in %   157%   75%   76%   75%   -  
 Quote ex-dividend  Date   09 June 2017   07 June 2018   23 May 2019   21 May 2020   -  
 Payment term  Date   13 June 2017   11 June 2018   27 May 2019   25 May 2020   -