PARIS — Kering shareholders are set to reap the benefit of the French luxury group’s stellar performance in 2017. The owner of brands including Gucci, Saint Laurent and Balenciaga said it will pay out an interim dividend of 2 euros for the 2017 financial year, up by 33 percent versus the previous year.
The interim dividend will be paid on Jan. 17 on positions closed the previous evening, Kering’s board decided at a meeting on Thursday. The balance of the dividend for 2017 will be set by the board on Feb. 12 and put to the vote at the next annual general meeting on April 26.
Kering last year increased its total dividend by 15 percent to 4.60 per share after posting its strongest growth in annual revenue since 2012.
The group maintained its strong performance into 2017 and again defied all expectations in the third quarter, despite tougher comparatives and a strengthening euro.
Kering reported that group sales rose 26.4 percent to 11.22 billion euros in the first nine months of 2017. In organic terms, revenues were up 27.2 percent in the period. It said it expects to continue outperforming luxury competitors as the year draws to a close.