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Returns to shareholders
Vivendi’s Management Board has made a commitment to return an additional €1.3 billion to shareholders by mid-2017 at the latest, specifying that it would likely take the form of an ordinary dividend of €1 per share or share repurchases, depending on the overall economic environment. Considering the level of share repurchases made between February 18, 2016 and November 9, 2016 (41.3 million shares for a total of €722.8 million), the Management Board notified the Supervisory Board on November 9, 2016 that in 2017 it would propose the payment of an ordinary dividend of approximately €0.40 per share with respect to 2016, depending on the overall business performance achieved in 2016. The Group may undertake share repurchases depending on the overall economic environment.