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* The Board is authorized to buy back more; there’s no immediate plan to retire or sell current holdings. | * The Board is authorized to buy back more; there’s no immediate plan to retire or sell current holdings. | ||
==== Dividend ==== | |||
* United Internet’s dividend policy is to pay out 25–40% of net profit. | |||
* The recent €0.50 per share payout included a catch-up dividend because past years’ payouts were lower (or zero in one year), bringing the multi-year average to about 35%. | |||
* Management is comfortable with the current payout level, which is at the upper end of their target range. | |||