|EUR per share|
Vivendi paid a total dividend of 3,777 million EUR last year, for a market capitalization of 20,975 millions. Dividend per share of Vivendi is 3.00 EUR, and his stock market price 16.66 EUR.
According to the chart below, where dividend yield is displayed, Vivendi has a dividend yield of 18.01%, which is higher than the amount offered by both the market average and companies from France. It is also bigger than average of Consumer Services industry. This high dividend yield might be a sign to worry about the future of the company so deeper analysis is needed.
About the ability of Vivendi to maintain his current dividend of EUR 3.00 per share, an amount that accounts for 18.01%, we should study its payout ratio both on earnings and on cash-flows (see chart below). Vivendi payout on ernings is currently 241.94%, which is higher than the market average, and companies of Consumer Services industry, which are 40.24% and 40.32% respectively. Both figures show that Vivendi can have problems to keep with his present dividend yield.
The payout on earnings should be complemented with the payout on cash flow since it is this latter amount the one which can be distributed to shareholders. Cash flow per share of Vivendi is EUR 0.52 per share, which is lower than the dividend per share paid by the company of EUR 3.00, so the company does not generate enough cash to maintain his dividend in the future.
The following figure shows payout ratios over earnings and cashflow of Vivendi, compared againt world market average, France companies, Consumer Services industry and Media sector companies. You might also need to check full financial report of Vivendi.
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