According to AE’s Articles of Association, dividends may only be distributed in accordance with the company’s financial capability based on the decisions taken at the AGMS. The company will declare dividends with respect to: 1) the operating income, cash flow, capital adequacy and the financial condition of the company and its subsidiaries with regard to reaching optimum growth in the future; 2) the required fulfillment of reserve funds; 3) the company and its subsidiaries’ obligations based on agreements with third parties (including creditors); 4) the compliance with prevailing laws and regulations and AGMS approval.
Since its IPO in 2008, AE has paid dividends to the shareholders totaling over US$1.4 billion with the average payout ratio of 40%.
On the 2019 Annual General Meeting of Shareholders, the shareholders agreed on the company’s plan to distribute a total cash dividend of US$200 million for fiscal year 2018, 20% lower than the US$250 million of dividend distributed for fiscal year 2017, due to lower net income. This total cash dividend amount includes the interim cash dividend of US$75 million paid on January 15, 2019.
Dividend Distributions Since IPO
|2008||USD 79,784,047||USD 35,523,233||USD 0.00111||42.54%|
|2009||USD 464,403,637||USD 102,951,487||USD 0.00322||21.24%|
|2010||USD 245,365,981||USD 113,368,439||USD 0.00354||43.98%|
|2011||USD 552,102,976||USD 259,086,293||USD 0.00810||47.08%|
|2012||USD 385,347,573||USD 117,068,621||USD 0.00366||30.38%|
|2013||USD 231,230,611||USD 75,167,011||USD 0.00235||32.51%|
|2014||USD 178,161,857||USD 75,486,870||USD 0.00236||42.37%|
|2015||USD 152,440,533||USD 75,486,870||USD 0.00236||49.52%|
|2016||USD 334,623,054||USD101,075,640||USD 0.00316||30.21%|
|2017||USD 483,297,251||USD 250,130,223||USD 0.00782||51.75%|
|2018||USD 417,720,357||USD 200,232,122||USD 0.00626||47.93%|
|2019*||USD 405.994.931||USD 150.014.162||USD 0,00469|
*Interim dividend for year 2019 based on 9M19 Financial Statements.