Dividend payment

On 3 March 2022, the Board of Directors approved a proposal to the next AGM of a dividend payment of 27.8c per share, in line with last year, representing a dividend yield of approximately 8.1%. Upon payment of this dividend, NOS will still have a very conservative capital structure, remaining close to its target net debt ratio of 2x NFD / EBITDA AL, albeit temporarily higher due to the one-off 5G license payment in 4Q21. NOS remains solidly positioned to meet future investments and committed to distribute an attractive level of dividends whilst maintaining a strategic focus on preserving a strong capital structure to support continued delivery of sustainable value creation for shareholders.


Net income
(millions of euros)
Net Income per share ​Dividends per share Payout ratio
​2021 ​144.2 0.278€​ ​0.278€ 99%​
​2020 ​92.0 0.278€​ ​0.278€ 156%​
​2019 ​143.5 0.278€​ ​0.278€ 100%​
​2018 ​137.8 0.27€​ ​0.35€ 127%​
​2017 ​124.1 0.24€​ ​0.30€ 125%​
​2016 ​90.4 0.20€​ ​0.20€ 114%​
​2015 ​82.7 0.16€​ ​0.16€ 100%​
​2014 ​74.7 0.15€​ ​0.14€ 97%​
​2013 ​63,4 0.12€​ ​0.12€ 97%​
​2012 ​36.0 ​0.12€ ​0.12€ ​103%
​2011 ​34.2 ​0.11€ ​0.16€ ​145%
​2010 ​35.4 ​0.11€ ​0.16€ ​140%
​2009 ​44.0 ​0.14€ ​0.16€ ​112%
​2008 ​47.9 ​0.16€ ​0.16€ ​103%
​2007 Extraordinary ​48.9 ​0.16€ ​0.30€ ​190%
​2007 Ordinary ​48.9 ​0.16€ ​0.20€ ​126%
2007 Total ​48.9 ​0.16€ ​0.50€ ​316%
​2006 ​71.1 ​0.23€ ​0.30€ ​130%
2005 ​111.7 ​0.36€ ​0.275€ ​76%