Our shareholders naturally expect a return on their investment. To help them follow the evolution of our valuation, we publish twice a year a key indicator: the Net Asset Value. NAV is calculated on the basis of our annual accounts and reflects our investments at their fair value, in line with IPEV (International Private Equity Valuation) guidelines. As of December 31, 2021, our NAV per share stood at €117.8, up 40% (dividend included) across 12 months.
Total Shareholder Return: our key indicator
In addition to reflecting Eurazeo's share price, the Total Shareholder Return also includes paid-out dividends. Between the end of 2012 and the end of 2021, it was up 258%, well above major indices such as the CAC 40 (+158%). The Total Shareholder Return complements Eurazeo's stock market value.
Strong commitment to paying dividends
Last year, we proved the solidity of our Group’s foundations, our unique status, our dynamism, and our ability to adapt to the modern world and its demands. These attributes make us very confident about Eurazeo’s future. Given this context, the Supervisory Board is in favor of continuing our policy of dividend growth, and will propose increasing it to €1.75 per share in the upcoming Shareholders’ Meeting, as well as paying a special dividend of €1.25 per share in view of the exceptional results we achieved in 2021.
Rewarding shareholder loyalty
We reward our registered shareholders who have held their shares for more than two years without interruption by paying them a 10% bonus dividend. To benefit from this loyalty premium, one must meet the following requirements:
- one must hold shares in pure or in administered registered form
- hold them for more than two full calendar years
- still hold them on Eurazeo’s dividend payment date
Shareholders who have registered or converted their Eurazeo shares before December 31, 2020 will benefit from our loyalty bonus as of 2023.
Share buybacks: creating more value
We deliberately choose to buy back shares when the difference between the NAV per share and the share price warrants it. Most of the shares bought back are cancelled during the year. This results in a higher NAV per share and a better return for our shareholders.