Dividend policy 2026
The main elements of the dividend policy are:
- Dividend distribution conditional on being properly financed in accordance with PostNL’s financial framework
- The aim is to pay dividend that develops substantially in line with operational performance
- Pay-out ratio of around 70% - 90% of normalised profit
- Shareholders are offered a choice to opt for cash or shares
This policy will be pursued subject to the financial results and equity position of PostNL. Notwithstanding this policy, the Board of Management may establish, with the approval of the Supervisory Board, the amount to be appropriated to the reserves and/or the amount of the dividend in the light of particular circumstances. PostNL’s dividend policy will be reviewed annually to ascertain that they correspond with PostNL’s financial policy and that PostNL continues to distribute dividends.
Articles of Association and dividend
Preference shares B
If preference shares B have been issued and are outstanding, PostNL first has to pay dividends on the paid-up part of the nominal value of such shares, at a rate of one to three percentage points above the average 12-monthly EURIBOR (EURO Interbank Offered Rate), weighted to reflect the number of days for which the payment is made over the financial year to which the distribution relates.
Ordinary shares
The Board of Management shall determine, subject to the approval of the Supervisory Board, what part of the profit is to be appropriated to the reserves after payment of dividends on the preference shares B (if applicable). The part of the profit remaining after the appropriation to the reserves shall be proposed to the General Meeting of Shareholders to be distributed as dividend on the ordinary shares.