Treasury shares held at the end of the year, including those owned under the liquidity contract, are deducted from the share capital.
The portfolio of treasury shares changed as follows in 2023 and 2024:
| Number of shares | Amount (in millions of euros) | Cash flows (in millions of euros) | ||
|---|---|---|---|---|
| Treasury shares held on December 31, 2022 | Treasury shares held on December 31, 2022
|
Treasury shares held on December 31, 2022Number of shares 2,319,795 |
Treasury shares held on December 31, 2022Amount (in millions of euros)138 |
Treasury shares held on December 31, 2022Cash flows (in millions of euros)- |
| Disposals (exercise of stock options) and vesting of free shares | Disposals (exercise of stock options) and vesting of free shares
|
Disposals (exercise of stock options) and vesting of free shares Number of shares (1,545,833) |
Disposals (exercise of stock options) and vesting of free shares Amount (in millions of euros)(93) |
Disposals (exercise of stock options) and vesting of free shares Cash flows (in millions of euros)30 |
| Buybacks of treasury shares | Buybacks of treasury shares
|
Buybacks of treasury shares Number of shares 3,000,000 |
Buybacks of treasury shares Amount (in millions of euros)222 |
Buybacks of treasury shares Cash flows (in millions of euros)(222) |
| Movements as part of the liquidity contract | Movements as part of the liquidity contract
|
Movements as part of the liquidity contract Number of shares (36,595) |
Movements as part of the liquidity contract Amount (in millions of euros)(2) |
Movements as part of the liquidity contract Cash flows (in millions of euros)3 |
| Treasury shares held on December 31, 2023 | Treasury shares held on December 31, 2023(1) |
Treasury shares held on December 31, 2023Number of shares 3,737,367 |
Treasury shares held on December 31, 2023Amount (in millions of euros)265 |
Treasury shares held on December 31, 2023Cash flows (in millions of euros)(189) |
| Disposals (exercise of stock options) and vesting of free shares | Disposals (exercise of stock options) and vesting of free shares
|
Disposals (exercise of stock options) and vesting of free shares Number of shares (1,673,636) |
Disposals (exercise of stock options) and vesting of free shares Amount (in millions of euros)(113) |
Disposals (exercise of stock options) and vesting of free shares Cash flows (in millions of euros)- |
| Buybacks of treasury shares | Buybacks of treasury shares
|
Buybacks of treasury shares Number of shares 1,481,711 |
Buybacks of treasury shares Amount (in millions of euros)145 |
Buybacks of treasury shares Cash flows (in millions of euros)(145) |
| Movements as part of the liquidity contract | Movements as part of the liquidity contract
|
Movements as part of the liquidity contract Number of shares 26,671 |
Movements as part of the liquidity contract Amount (in millions of euros)3 |
Movements as part of the liquidity contract Cash flows (in millions of euros)(3) |
| Treasury shares held on December 31, 2024 | Treasury shares held on December 31, 2024(1) |
Treasury shares held on December 31, 2024Number of shares 3,572,113 |
Treasury shares held on December 31, 2024Amount (in millions of euros)300 |
Treasury shares held on December 31, 2024Cash flows (in millions of euros)(148) |
As part of a share buyback program, Publicis Groupe SA repurchased 1,031,711 of its shares for euro 99 million (euro 101 million including the financial transaction tax) during the first half of 2024. The objective of this program was to meet the obligations related to the current free share plans for employees, without issuing new shares. In 2023, Publicis Groupe SA repurchased 3,000,000 of its shares for euro 222 million.
In addition, in June 2024, Publicis Groupe SA acquired a block of 150,000 of its own shares for an amount of euro 15 million from shareholder Ms. Sophie Dulac. These shares will also be used to meet the Company’s obligations under current employee free share plans without issuing new shares. The transaction price was euro 100.09 per share repurchased, representing a discount of 1% compared to the closing market price of euro 101.10 on June 13, 2024. This transaction constitutes a transaction with a related party (see Note 33).
Another separate buyback operation took place in July, involving 300,000 treasury shares for euro 29 million. These shares will also be used to cover the Company’s obligations under current employee free share plans without issuing new shares.
| Per share (in euros) | Total (1) (in millions of euros) | |
|---|---|---|
| Dividends paid in 2024 (for the 2023 financial year) | Dividends paid in 2024 (for the 2023 financial year) Per share (in euros)3.40 |
Dividends paid in 2024 (for the 2023 financial year) Total (1) (in millions of euros)853 |
| Dividends proposed to the General Shareholders’ Meeting (for the 2024 financial year) | Dividends proposed to the General Shareholders’ Meeting (for the 2024 financial year) Per share (in euros)3.60 |
Dividends proposed to the General Shareholders’ Meeting (for the 2024 financial year) Total (1) (in millions of euros)915 |
The Groupe’s policy is to maintain a solid capital base in order to maintain the confidence of investors, creditors and the market and to support future activity development. The Groupe’s management pays particular attention to the debt-to-equity ratio, which is defined as net debt (financial debt less cash and cash equivalents) divided by equity (including non-controlling interests), and has calculated that the ideal debt-to-equity ratio is less than 0.80.
As of December 31, 2024, the net debt position is a positive cash position. It was the same situation as of December 31, 2023.
Management also monitors the dividend payout rate, which is defined as the ratio between the dividend per share and the diluted headline earnings per share. Given the level of dividend (euro 3.60 per share) that will be proposed to the next General Shareholders’ Meeting, the rate will be 49.3% for financial year 2024 compared to 48.9% for financial year 2023.
