Payout ratio

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Development of the dividend payout ratio*

Our dividend policy is designed to give our shareholders an appropriate share in the Company’s success. The actual basis is the current dividend level per share, which we will strive not to undercut in future dividend payments, depending on the actual results and the capital position. There have not been any cuts in dividend since 1970.

* Dividend payout ratio = Overall dividend amount divided by Group IFRS profit for the year.

Payout ratio in relation to the IFRS consolidated profit of Munich Re (Group)

  IFRS consolidated profit (Group) Dividend payout for the financial year Payout ratio
Year (€m) (€m) (%)
2016 2,581 1,333 51.7
2015 3,122 1,329 42.6
2014 3,171 1,293 40.8
2013 3,342 1,254 37.5
2012 3,211 1,255 39.0
2011 712 1,110 155.9
2010 2,430 1,110 45.7
2009 2,564 1,072 41.8
2008 1,528 1,073 70.2
2007 3,937 1,124 28.5
2006 3,536 988 27.9
2005 2,743 707 25.8
2004 1,833 457 24.9

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