Dividend

2013 dividend and exceptional distribution

In 2013, Natixis' shareholders are entitled to two different payments: a dividend plus an exceptional distribution

Principles

On May 21, 2013 the Combined General Shareholders' Meeting of Natixis approved the payment of a  dividend for the year 2012 amounting to €0.10 per share and reflecting a payout ratio of 37% of attributable income.

The Ordinary General Shareholders' Meeting of Natixis held on July 31, 2013 approved an exceptional distribution of 0,65 € per share.

Dividend per share in euros

On May 21, 2013 the Combined General Shareholders' Meeting of Natixis approved the payment of a yearly dividend amounting to €0.10 per share and reflecting a payout ratio of 37% of attributable income.

Schedule of payment

  • Dividend ex-date: May 24, 2013
  • Expected dividend payment date: May 29, 2013

Dividend per share in euros

  • Financial year 2012: 0.10
  • Financial year 2011: 0.10
  • Financial year 2010: 0.23
  • Financial year 2009:   -
  • Financial year 2008 :  -
  • Financial year 2007 : 0.45
  • Financial year 2006 : 0.86*
  • Financial year 2005 : 5.00
  • Financial year 2004 : 3.30
  • Financial year 2003 : 2.50

* after 1:10 share split

Exceptional distribution

On February 17, 2013, it was decided to sell the CCIs (Certificats Coopératifs d’Investissement: Cooperative Investment Certificates) held by Natixis. This consisted in the purchase by each Banque Populaire and each Caisse d’Epargne of all the CCIs held by Natixis, at a price of €12.1 billion in cash.

The transaction had a very positive impact on the already solid financial structure and showed a significant capital surplus (approximately €2.2 billion), the most part of which was redistributed to shareholders via an exceptional distribution amounting to €2 billion, i.e. an amount of €0.65 per share. 

Schedule of payment

  • Exceptional distribution ex-date: August 14, 2013
  • Exceptional distribution payment date: August 19, 2013

Tax treatment

Principle :

Tax treatment applicable to the dividend :

Resident shareholders

For natural shareholders whose tax residence is in France, the dividend will be taken into account in full right to determine their global income submitted to the progressive rate and will be eligible for tax allowance amounting to 40% of the gross perceived amount (Article 158-3-2° of the French General Tax Code).

Upon payment, the dividend will be subject to a 21% withholding tax on account of the income tax payment and to social contributions withholding taxes globally amounting to 15,50%. The collection made as an advance payment will be deducted from the payable income tax for the year 2013. If need be, the excess collection on payable tax will be paid back. However, natural shareholders belonging to a tax unit with a fiscal reference income for the year 2011 not exceeding €50,000.- for single, widowed or divorced taxpayers, or €75,000.-  for taxpayers filing jointly will be entitled to ask for a waiver of collection provided they deliver a sworn certificate to their paying institution at the latest on March 31, 2013 (Articles 117 quater and 242 quater of the French General Tax Code and Article 9 V of the Finance Law Nr 2012-1509 of December 29, 2012 for 2013).

Non-resident shareholders

For natural or legal shareholders whose tax residence is outside France, the dividend will be subject to a withholding collection rate which will vary depending on the beneficiary’s category, place of residence or head office, or place of payment pursuant to Article 119 bis 2 of the French General Tax Code.

Shareholders holding their Natixis shares within a PEA (Plan d'Epargne en Actions: share savings plan)

  • The dividend received within the PEA will be exempt from income taxation.
  • Upon payment the dividend will not be submitted to withholding social contributions.
  • This dividend will increase the PEA net asset value while determining the gain achieved as part of the PEA.

 

Taxation of the exceptional cash distribution of €0.65 for each share held in an ordinary account by a physical person residing in France:

The amount of the exceptional distribution of €0.65 per share was broken down into two parts:

  • One part, estimated at €0.359, is considered as income distributed subjected to income tax and social security contributions, and
  • The other part, estimated at €0.291, is considered as return of contribution (in application of Article 112,1° of the French General Tax Code), is not subject to income tax and social security contributions and will reduce the share purchase price.

For information purposes only. Beneficiaries should contact their financial advisor.