The dividend policy of Heineken N.V. and Heineken Holding N.V. intents to preserve the independence of the company, to maintain a healthy financial structure and to retain sufficient earnings in order to grow the business both organically and through acquisitions.
The dividend payments are related to the annual development of the net profit before exceptional items and amortisation of brands (net profit beia), which translates in a dividend pay-out of 30-35%.
Dividends are paid in the form of an interim dividend and a final dividend. The interim dividend is fixed at 40% of the total dividend of the previous year. Annual dividend proposals will remain subject to shareholder approval.
Under the former dividend policy (up to 2005), every three years Heineken N.V. assessed the scope for increasing the dividend via a share-split, thereby increasing the number of shares, whilst maintaining the annual dividend per share at the same level. This resulted in an intended dividend pay-out ratio of 20% - 25%.
(For more details on share splits see the separate page (Split) in this Dividend section).
Under the current policy, Heineken will only consider share-splits if and when the Heineken share price has reached a level where the liquidity of its stock becomes adversely affected.
Payment
Announcements
Split | 
