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146
Corporate Governance Report
The dividend history for the past years is set out
below:
* Proposal to be approved at the next General Meeting of Shareholders
ANO
2008 2009 2010 2011
Dividendo
por acção
(euros)
0,055 0,055 0,055 0,055
Dividendos
distribuídos
(milhares
de euros)
990,00 990,00 990,00 990,00
Dividend
Yield (%)
0.8% 0.7% 0.7% 0.8%
Pay out
ratio
9.0% 8.0% 6.8% 16.2%
*
During the year 2011 there was no emission of
shares or of other securities.
The dividends for financial year 2010 were paid as
from the 11th May 2011. A gross value of
€
0,0550
per share was paid, which in net terms represented
a value of
€
0,0432 per share.
III.9. Description of the dividend distribution
policy adopted by the company, including the
dividend value per share distributed during the
last three periods.
The dividends policy is the responsibility of the
Board of Directors and depends on various factors,
including the Ibersol results, investment plans,
financing needs and business evolution prospects.
If no abnormal circumstances occur the policy of
previous years distribution policy of 0,055
€
per
share will be maintained.