Investor Presentaiton
Free Cash Flow (millions of dollars except per share amounts and percentages)
2006 2007 2008 2009 2010 2011
2012 2013 2014
Payout ratio
106.4% 77.7% 69.6% 70.6% 65.2%
Dividend per share
Dividend increase
$1.18 $1.18 $1.18 $1.18 $1.18
59.4%
$1.18
53.0% 53.9% 48.4%
$1.18 $1.23 $1.25
4.2%
2015 2016 2017 2018 2019 2020 TTM
38.1% 43.1% 48.7% 44.1%
2021
43.2% 36.6% 38.5%
$1.38 $1.52 $1.68 $1.90 $2.10 $2.31 $2.48 $2.54
10.4% 10.1% 10.5% 13.1% 10.5% 10.1% 10.0% 10.0%
Free cash/share
1.37
1.56
1.71
1.62
1.81
2.02
2.23
2.32
2.60
3.32
4.22
4.41
5.08
4.97
4.87
5.80
240.0
220.0
200.0
180.0
160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
$653.7m in declared dividends since July 2005
2006 to 2021TTM FCF CAGR is 19.7%
2006 to 2021TTM FCF / share CAGR is 10.3%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Free Cash Flow (LHS)
Dividend per share (RHS)
Extraordinary Times Extraordinary Team
$9.00
$8.00
$7.00
$6.00
$5.00
$4.00
$3.00
$2.00
$1.00
$0.00
2016
2017
2018
2019
2020
2021
TTM
-
Free Cash Flow per share (RHS)
52View entire presentation