Vivendi to return €5 billion to shareholders post-SFR sale

Vivendi is to use part of the €5 billion net cash it stands to receive from the sale of SFR to make a €1 per share dividend payout to shareholders and will use a significant part of the remainder to make dividend payouts or to buy back shares, the company has said.

The €1 per share distribution will account for €1.34 billion and will take the form of €0.50 being attributed to its 2013 performance and €0.50 as a return to shareholders. The payment will take place on June 30.

The Vivendi board expects to dispose of a significant part of the remaining €3.5 billion in the form dividends and/or share buybacks. The company expects to return close to €5 billion to shareholders this year and next, while retaining its BBB/Baa2 stable credit rating as a result of the sale.