Dividends

Our policy for dsm-firmenich

2025 Dividend on ordinary shares in dsm-firmenich

On 6 May 2025, the Annual General Meeting of DSM-Firmenich AG adopted the proposal that a dividend per ordinary share was declared in the amount of EUR 2.50.

The dividend has been paid partially (57.5%) out of capital contributions reserves and partially (42.5%) out of available earnings.

The Board of Directors has considered that it is appropriate to propose a dividend that is outside dsm-firmenich’s policy target of between 40%-60% of the total net income, as dsm-firmenich is committed to restoring earnings per share within a reasonable time frame, and since its capital and liquidity allow for the proposed dividend payout.

In its audit report that accompanies DSM-Firmenich AG’s financial statements, KPMG confirms that the proposed payment complies with Swiss law and the Articles of Association.

Timeline payment dividend DSM-Firmenich AG:

  • Publication date                  =   6 May 2025
  • Ex-dividend date                 =   8 May 2025
  • Record date                         =   9 May 2025
  • Payment date                      =  16 May 2025

Swiss withholding tax

The dividend of EUR 2.50 per share has been paid, in line with dsm-firmenich’s policy, partially (57.5% = EUR 1.4375) out of capital contribution reserves without deduction of any Swiss withholding tax, and partially (42.5% = EUR 1.0625) out of available earnings, with a deduction of 35% Swiss withholding tax.

The above results in an amount of EUR 0.3719 DWT paid per share to be paid on 13 June 2025 by DSM-Firmenich AG to the Swiss Federal Tax authorities, at an exchange rate of 0.9377 CHF/EUR (ECB 15 June 2025), resulting in CHF 0.3487 DWT per share.

Depending on the tax status and domicile of the beneficial owner of the dividend, the 35% Swiss withholding tax may be partially credited and/or partially reclaimed.

For more information on reclaim of Swiss Withholding Tax, see:

  • Residents Switzerland, Germany 
  • All other countries 
  • For the Netherlands (forms related to the double taxation agreement concluded by Switzerland with the Netherlands -Form 81) 

    For downloading the Form 81 from the website Swiss Tax authorities, a Snapform Viewer has to be downloaded too. We have been informed by some shareholders, that they face issues with downloading this Snapform viewer (blocked by certain firewalls). Form 81 can also be ordered free of charge with the Swiss Tax Authorities: Click here 

    We have included an instruction to fill in Form 81 here. We also have added an example how to fill in the Form 81. See here.

Important: Information regarding (partial) reclaim of Swiss DWT, as provided on the dsm-firmenich website as well as in the instruction form and the example, are not intended as tax advice. DSM-Firmenich AG accepts no liability for possible inaccuracies in these documents /on this website that lead to damage. If a shareholder makes a request for a refund to anyone, it is done at the shareholder’s own risk and responsibility.

2024 Dividend on ordinary shares in dsm-firmenich

On 7 May 2024, the Annual General Meeting of DSM-Firmenich AG adopted the proposal that a dividend per ordinary share was declared in the amount of €2.50.

The dividend has been paid partially (62.7%) out of capital contributions reserves and partially (37.3%) out of available earnings.

The Board of Directors considers that it is appropriate to propose a dividend that is outside dsm-firmenich’s policy target of between 40%-60% of the total net income, as dsm-firmenich is committed to restoring earnings per share within a reasonable time frame, and since its capital and liquidity allow for the proposed dividend payout.

In its audit report that accompanies DSM-Firmenich AG’s financial statements, KPMG confirms that the proposed payment complies with Swiss law and the Articles of Association.

2024 timeline payment dividend DSM-Firmenich AG was:

  • Publication date                  =   7 May 2024
  • Ex-dividend date                 =   9 May 2024
  • Record date                         =  10 May 2024
  • Payment date                      =  16 May 2024

Swiss withholding tax

The dividend of EUR 2.50 per share has been paid partially (62.7%) out of capital contribution reserves without deduction of any Swiss withholding tax and partially (37.3%) out of available earnings, with a deduction of 35% Swiss withholding tax.

  • €1.5675 per share out of capital contributions reserves (no dividend tax has been withheld)
  • €0.9325 per share out of available earnings. (35% DWT).

The above result in an amount of €0.32637 DWT paid per share on 13 June 2024 by DSM-Firmenich AG to the Swiss Federal Tax authorities, at an exchange rate of 0.98000, resulting in CHF 0.3198 DWT per share.

Depending on the tax status and domicile of the beneficial owner of the dividend, the 35% Swiss withholding tax may be partially credited and/or partially reclaimed.

For more information on reclaim of Swiss Withholding Tax, see:

  • Residents Switzerland, Germany 
  • All other countries 
  • For the Netherlands (forms related to the double taxation agreement concluded by Switzerland with the Netherlands -Form 81) 

    For downloading the Form 81 from the website Swiss Tax authorities, a Snapform Viewer has to be downloaded too. We have been informed by some shareholders, that they face issues with downloading this Snapform viewer (blocked by certain firewalls). Form 81 can also be ordered free of charge with the Swiss Tax Authorities: Click here 

    We have included an instruction to fill in Form 81 here. We also have added an example how to fill in the Form 81. See here.

Important: Information regarding (partial) reclaim of Swiss DWT, as provided on the dsm-firmenich website as well as in the instruction form and the example, are not intended as tax advice. DSM-Firmenich AG accepts no liability for possible inaccuracies in these documents /on this website that lead to damage. If a shareholder makes a request for a refund to anyone, it is done at the shareholder’s own risk and responsibility.

2023 Dividend on ordinary shares in dsm-firmenich

On 29 June 2023, the Extraordinary General Meeting of DSM-Firmenich AG adopted the proposal that a dividend per ordinary share was declared in the amount of €1.60.

The dividend was fully paid out of the Reserves from capital contributions. The dividend payment was paid without deduction of any Swiss withholding tax.

Timeline payment dividend DSM-Firmenich AG

  • Publication date           = 29 June 2023 (post EGM)
  • Ex-dividend date          = 3 July 2023
  • Record date                  = 4 July 2023
  • Payment date               = 6 July 2023

Dividend policy

Our objective is to deliver consistent and sustainable dividends to our shareholders. To achieve this, we have adopted a ‘stable to preferably rising’ dividend policy, reflecting our commitment to long-term value creation. Under this policy, we aim to maintain a stable dividend payout per ordinary share and progressively increase dividends over time, subject to compliance with Swiss law and the relevant provisions of the Articles of Association.

The Board of Directors will propose the annual dividend amount per ordinary share which is typically announced alongside the publication of the financial results for the preceding year. The annual General Meeting of Shareholders will establish the dividend to be paid to the holders of ordinary shares.

Our dividends are subject to Swiss Witholding Tax. We intend to pay the dividend partly out of normal reserves or retained earnings (which is currently subject to 35% Witholding Tax) and partly out of the capital contribution reserves (which is currently not subject to Witholding Tax), as to be specified in the annual dividend proposals to the AGM.

Our approach is as follows.

  • If the dividend yield is below or equal to 2%, 50% of the dividend will be paid out of normal reserves or retained earnings and 50% will be paid out of capital contribution reserves.
  • Any dividends paid out in excess of a 2% dividend yield will be paid out of capital contribution reserves only (for example, if the yield is 2.1%, there would be a 1.0/1.1 split between retained earnings and capital contribution reserves).
  • The dividend yield will be calculated as a percentage based on the average share price of the previous financial year.

Our ability and intention to declare and pay dividends in the future depend on several factors, including:

(i) Financial position and performance: dsm-firmenich’s financial position, results of operations, capital requirements, investment projects, distributable reserves and available liquidity.

(ii) Subsidiary contributions: As we operate through subsidiaries, associated companies, and joint ventures, distributable profits depend significantly on these entities generating and distributing earnings to dsm-firmenich.

(iii) Growth funding needs: Retaining part of our future profits to fund ongoing growth and development.

(iv) External factors: Assumptions, risks, and uncertainties, many of which are beyond dsm-firmenich’s control.

(v) Other considerations: Any additional factors deemed relevant by the Board of Directors.

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