2023 universal registration document

7.5.2.3. Dividends

The limitation period for dividends is five years. Any dividends for which payment has not been requested are paid to the French Deposits and Consignments Fund (La Caisse des Dépôts et Consignations) .

7.6. Information and shareholder dialogue policy

L’Oréal is committed to improving the quality of its financial information and takes steps to ensure it maintains a regular dialogue with its shareholders and with French and international investors. Beyond its legal obligations, a whole range of information and communication tools is made available to all stakeholders to give them a better understanding of L’Oréal’s business model and the potential of the beauty market. These comprise documentation, including digital media on the L’Oréal Finance website, shareholder events and meetings either organised physically or virtually, and investor conferences and roadshows.

7.6.1. Additional communication tools

Keen on transparency and accessibility of information, in 2023 the Financial Communications Department shared a wealth of complete financial and non-financial information with the entire financial community. It relies on communication tools with a high emphasis on digital:

• L’Oréal makes available two comprehensive and complementary publications each year, the Annual Report and the Universal Registration Document, and one interim publication, the Half-Year Financial Report. These documents can be consulted and downloaded at www.loreal-finance.com. In 2023, the Universal Registration Document was published in an interactive format to improve user-friendliness and access to content.
• The www.loreal-finance.com website contains a complete set of all financial and non-financial information. Its content and ergonomics evolve regularly to provide quicker and easier access to information.
• The L’Oréal Finance mobile app, available on the App Store and Google Play, makes it possible to keep L’Oréal Finance news close to hand. Downloaded more than 68,000 times since it was created, it is highly appreciated by professionals and individual shareholders.
• The Letter to Shareholders and e-newsletters make it possible to keep shareholders and subscribers regularly informed of all the Group’s major events.
• The shareholder brochure describes the L’Oréal’s business model and explains the advantages of registered shares to answer questions that shareholders may have about this shareholding method.
• Several “best-of” films featuring the main events of the year have been made and posted on the L’Oréal Finance website, so our shareholders can relive these moments.
• Testifying to the loyalty of the shareholders who support the Group’s development over the long term, more and more shareholders are showing an interest in becoming registered shareholders. Thanks to preferential dividends and the advantages related to this method of shareholding, becoming a registered shareholder enables shareholders to be known to the Group, to have systematic and regular access to information, and to be closely involved in the Group’s development.

In 2023, the Group and the Financial Communications Department were recognised for their achievements:

• On 12 April, L’Oréal won the Trophée d’Or for Best Annual Report at the 27th TOP/COM GRANDS PRIX Corporate Business awards ceremony. These TOP/COM awards are given to the best communications campaigns of the year in around 30 categories, selected by a jury of marketing and communications experts. 
• On 14 November, L’Oréal received the “Prix de la Pédagogie” (Teaching Award) at the 22^nd Investor Awards, organised by Boursorama.
• On 15 December, L’Oréal won the top prize – the Trophée d’Or – for the CAC40 company with the best digital communication, awarded by Le Revenu magazine.

7.6.2. A large number of shareholder events for regular and detailed dialogue in 2023

In 2023, events were organised, some in digital format, to maintain relationships and promote dialogue:

• The Financial Communications Department and the Investor Relations Department organised a financial information meeting and telephone conferences intended for analysts and institutional investors, with journalists specialising in the cosmetics sector also invited along. A Capital Markets Day was also held for analysts and institutional investors on 16 and 17 November on the theme of “Beauty Tech”. The presentations of the Group’s financial results and the business activities of the Operational Divisions were broadcast live online at www.loreal‑finance.com. All the information presented was made available on this site, on the day of its publication, when the annual and half-yearly results were published, as well as at investor conferences.
• The Annual General Meeting was broadcast live and on demand, in French and English, on the L’Oréal Finance website. For several years, shareholders have had the option to vote remotely via the Votaccess platform. This year, in order to respect shareholder democracy and encourage dialogue with shareholders, and in addition to the legal process for written questions, L’Oréal set up a dedicated online chat platform to receive, in the days preceding the Annual General Meeting⁽¹⁾Within the framework of the Annual General Meeting (for more information see subsection 7.1.4. “Annual General Meeting”)., all shareholders’ questions to be made directly to Management. Shareholders also had the opportunity to ask questions both before and during the Annual General Meeting. This broadcast was viewed by around 800 shareholders.