NOTE B25 Dividend

The Board of Directors decided to recommend to the General Shareholders’ Meeting of May 8, 2018 the payment of a total gross dividend of  €3,60 per share (€2,52 net per share).

The dividend for the fiscal year 2017, 4.3% higher than the dividend for the fiscal year 2016, is in line with the Group’s dividend policy of maintaining a stable to increasing dividend whenever possible and, as far as possible, never reducing it.

Given the interim dividend of €1,38 gross per share, (€0,96 net per share) with 30% whithholding tax, paid on January 18, 2018, the balance of the dividend in respect of 2017, equals €2,22 gross per share (€1,55 net per share ), which will be paid on May 23, 2018, provided prior agreement by General Shareholders Meeting.