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. At the end of 2020, our NAV per share stood at €85.4, up 6.3% over the year.
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 2020, it was up 153.3%, well above major indices such as the CAC 40 (+95.7%). The Total Shareholder Return complements Eurazeo's stock market value.
Strong commitment to paying dividends
From 2003 to 2018, we increased our dividend payout per share by an average of 6.7% per year. This includes the payment of exceptional dividends. For fiscal year 2020, a dividend of €1.50 per share was distributed, representing a 20% increase over the last payout.
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.