Shares and dividends

Over the time horizon of the 2026-2029 Business Plan: a distribution is envisaged corresponding to a payout ratio, based on the consolidated net income, of 95% each year of the Plan,
of which 75% through cash dividend and 20% through buyback.
 

For the 2025 results: a total cash dividend distribution of 6.5bn euro, with interim dividend of 3.2bn euro paid in November 2025 and remaining dividend of 3.3bn euro payable in May 2026,
and a buyback of 2.3bn euro to be launched in July 2026.