Dividend Policy

For the financial year 2015, GrandVision intends to pay an interim dividend of €35 million, which is to be paid to the shareholders in September 2015. The remainder of the dividend over the financial year 2015, if any, will be determined at the Company’s Annual General Meeting in 2016 and paid in May 2016.

For the years 2016 and beyond, GrandVision intends to pay an ordinary dividend annually in line with the Company’s medium to long-term financial performance and targets in order to increase dividend-per-share over time. The Company envisages that, as a result of this policy, the ordinary dividend payout ratio will range between 25 and 50%.