READ MOREFor 2017, sales were $171.49 billion compared to $149.74 billion, prior year. Revenues from sales were $149.10 billion compared to $127.93 billion.
For the next three years, the Board confirmed a capital investment program of $15-$17 billion per year, set an objective to maintain the net-debt-to-capital ratio below 20%, and maintain its grade A credit rating. The Board expects to buy back up to $5 billion of shares over the period 2018-20.
Over the next 3 years, the Board proposed to increase dividend by 10%. The Board has decided to propose to the combined shareholders' Meeting, which will be held on June 1, 2018, an annual dividend of 2.48 euros/share for 2017, an increase of 1.2% compared to 2016.
Given the three previous 2017 interim quarterly dividends of 0.62 euros/share, a fourth quarter dividend of 0.62 euros/share is therefore proposed.
The 2018 interim dividends will be increased by 3.2% to 0.64 euros/share, with the intention of proposing to the combined shareholders' Meeting a full-year 2018 dividend of 2.56 euros/share. The target for the full-year 2020 dividend would be 2.72 euros/share. ■