We are glad to reflect the improved financial performance in
the proposed 75 cent per share gross dividend. It represents
a 25 percent increase over last year and a payout ratio of 40 percent, in line with the new policy announced in December 2013. This new policy demonstrates a strong commitment
to shareholders’ returns and will target sustainable growth in
the dividend within a payout ratio of 30%-40%.
Moreover, I’m pleased to say that the transformed governance is not only a change in our body of rules, but already a lived reality. Today, the work of the Board of Directors is marked by a strong sense of responsibility and motivation, witnessed by the high level of attendance at Board and Committee meetings, and even more by the quality of discussion and issues addressed.
The evaluation which was carried out in the first ten months of the Board’s tenure, testifies to a high degree of openness and focus within the Board and between Board and management.
While gender representation is clearly an area to be addressed
at its next renewal, the Board collectively displays an impressive range of relevant skills and experience, as well as international diversity and independence. Few Boards in our industry or in any other can boast such an international line-up of high-calibre individuals. It certainly sends out a strong signal of our Group’s global ambitions.
Already the Board has had numerous occasions to display its qualities both in monitoring programme evolution and in addressing more strategic matters.
Throughout 2013, the Board closely followed the progress of major aircraft programmes such as the A350 XWB, the A380, A400M, NH90 and EC225 retrofit.
Just as importantly, the Board played a significant supporting
role in the Strategy 2.0 discussion. The decision to integrate Airbus Military, Astrium and Cassidian into one Defence and Space Division in order to enhance competitiveness in the face