Dividend payment

NOS’ Board has agreed the proposal of a dividend per share of 27.8 euro cents representing 100% of Net Earnings generated in 2019 and a 6.3% dividend yield at the date of this report. Although NOS’ financial structure is still well within the 2x Net Financial Debt / EBITDA After Leases threshold, and operating and financial momentum is robust, the Board has proposed a dividend payment which is more consistent with current limited visibility surrounding the potential operating and financial implications of the upcoming 5G spectrum auction terms, which will only be known later this year. This proposal is subject to final approval at the General Shareholders’ Meeting.


Net income
(millions of euros)
Net Income per share ​Dividends per share Payout ratio
​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%