The following year the amount should exceed 43 billion

Shareholders can have the smile. The CAC 40 companies should pay a record amount of dividends in 2011 (the title of the year 2010): almost EUR 40 billion, according to the consensus of analysts FactSet, whose data have been restated by PrimeView, is an increase of 13. The following year, the amount should exceed 43 billion. Markit Dividend, specializing in this area, expected a similar trend, providing for an increase of 15 on EUR 41 billion. The trend is similar in Europe: the Stoxx 600 companies should "give" 228 billion, a figure growing by 14. While companies have reconstituted their "cash" - and to some extent benefits-, more generous distribution policies have resumed. At the same time, macroeconomic uncertainties and the relatively bleak context encourage many to return money to shareholders (dividends or share repurchases - read here), instead of investing heavily. "E n end of next year, the recurrent benefits of CAC 40 should be 8 lower than their more senior in 2007, but the dividends will become obsolete", said Pierre Sabatier, strategist at PrimeView.

Rate of 46 distribution

Dividends were moderately decreased last year, showing the efforts of companies to preserve their shareholders, already hit hard by the decline in the stock market. According to data from PrimeView (1), the dividends paid in 2010 (for the fiscal year 2009) exceeded 35 billion, compared to 36.6 billion a year earlier. By comparison, recurring profits in 2009 declined, of 33. Consequence: the distribution rate ("which evaluates the dividends reported profit") rose to a record of 62 in 2009. It should be 46 for the year 2010, close to the level of 2008, according to estimates by PrimeView.

In detail, the CAC 40 22 companies should increase their dividend this year, according to Markit (against 12 above), and reduce it one. Notable phenomenon: "four companies in the index should resume a payment: Natixis, EADS, Renault and PSA", said Dionisio Luiz, analyst at Markit. Top of head showing the largest yield (dividends/courses) should vary little Markit estimates: France Telecom should still be at the forefront of "paying" (with almost 9), followed by Vivendi ( 6.7) and Total (5.98), elbow-to-elbow with GDF Suez (5.98), and Natixis (5,96). Conversely, Alcatel-Lucent, EADS and Renault are expected yields Red Lantern.

France Telecom is also part of the "winning tiercé" alongside Telefonica, and Santander, the Euro Stoxx 50. "The Telecom and the services to the communities are always at the top of the table., and we see this year a few well placed financial values", is the analyst. These groups appear thus yields far above the average of the CAC 40 (around 4, according to data from PrimeView). An average figure which is itself superior to the performance of the loan of French State for ten years, and even better than the obligations of companies rated. According to Pierre Sabatier, this high performance is to bind to the fact that "investors do not include in the future growth of dividends courses: either because they want more dividends, or because they do not believe in the sustainability of the profits of the business."