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I enjoy my benefits

We include all Air Liquide Shareholders in our growth. This is why dividends are paid yearly and represent approximatively 55% of net profit. In addition, Free Share attributions regularly occur for all Shareholders, whether they are with Air Liquide directly (direct registered) or with their financial institution (bearer or intermediary registered).

Your loyalty, rewarded

We reward the trust that our registered Shareholders give us, whether they are direct registered (directly with Air Liquide) or intermediary registered (with their financial institution). By holding registered shares for at least two full calendar years, you will receive a loyalty bonus: more dividends paid and more Free Shares attributed.

Holding registered shares for 2 full calendar years

+10% on the dividend amount

+10% of Free Shares

Your dividends

Approximately 55% of net profit: that is what we distribute to our Shareholders. It is a testament to the Group’s desire to include you in the fruits of its growth.

Dividend amount

The amount is submitted for Shareholder approval at the General Meeting.

At the General Meeting on April 30, 2024, the payment of a dividend of 3.20 euros per share will be proposed to shareholders for the 2023 fiscal year, representing an increase of +8.5% compared with the previous year. The ex-dividend date has been set for May 20, 2024, and the payment is scheduled for May 22, 2024. Moreover, a Free Share attribution, on the basis of one Free Share for every 10 shares held, as well as the application of a loyalty bonus, are planned for June 2024.

Dividend payments

 If you are a direct registered Shareholder, the dividend minus any withholdings will be paid directly into your bank account by Air Liquide.

f you are an intermediary registered or bearer Shareholder, we will pay the gross dividend to your financial institution, which will then credit your account with the dividend minus any withholdings.

NoteIf you are a direct registered Shareholder and your bank account information has changed, you can update it online from your Shareholder Portal in the “My Profile” section. You can also send us your new bank details, along with a copy of your ID, through our dedicated page, selecting the subject “Updating Personal Details.”

Advance withholding exemptions

When you receive dividends, there is a 30% withholding: 17.2% is withheld for social contributions, while 12.8% is an advance tax withholding.

If your reference taxable income is less than €50,000 for an individual or less than €75,000 for joint filing, you can request an exemption from the advance withholding.

You should send your account manager a sworn statement between September 1 and November 30 every year.

For Shareholders whose shares are directly held with Air Liquide as direct registered shares, you can request this exemption from your Shareholder Portal and obtain confirmation that your request was received. 

Your loyalty bonus

For registered shares held for longer than two full calendar years, you will receive an additional +10% on the amount of dividends received and be attributed an additional +10% in free shares. It is our way of thanking you for your loyalty.

How to receive it 

It couldn’t be easier! In fact, you do not have to do anything if you:

  • Hold direct registered shares (directly with Air Liquide) or intermediary registered shares (with a financial institution that you have asked to convert your shares into intermediary registered shares)
  • Have held your shares for more than two full calendar years
  • Still hold them when dividends are paid and Free Shares are attributed

As a result, if you purchase direct registered shares (directly from Air Liquide) in 2024 or if you request your bearer shares to be converted into intermediary registered shares (from your financial institution) before December 31, 2024, you will begin receiving your loyalty bonus from 2027.

NoteAttributed Free Shares have the same benefits as the shares they are derived from, including seniority, voting rights, dividends, and loyalty bonus. In the case of a gift or hand-to-hand gifts to a spouse or relative entitled to inherit, or in case of an inheritance, the loyalty bonus (including seniority) is retained.

Typical calendar


Ask your financial institution to convert your shares to intermediary registered shares before December 31, 2024


Hold onto your shares for two full calendar years


Receive your first loyalty bonus in 2027 for your intermediary registered shares and continue receiving it every year as long as you keep your intermediary registered shares


Your Free Shares

Our Free Share attribution lets you grow your portfolio. This occurs regularly at Air Liquide, with ten attributions over the past 20 years. The next free share attribution on the basis of one free share for every 10 shares held, as well as the application of a loyalty bonus will take place in June 2024.


of Free Shares for registered Shareholders.

Increasing your stock portfolio’s value

We distribute approximately 55% of our net profit to our Shareholders: this is part of Air Liquide’s shareholder policy. 

The Group regularly distributes Free Shares, which lets you not only grow your share holdings, but also your future dividends. Moreover, if you hold registered shares for more than two full calendar years, the loyalty bonus entitles you to +10% more Free Shares (subject to the conditions defined by Air Liquide’s articles of association).

Free Shares have the same benefits as the shares they are derived from loyalty bonus, seniority, voting rights and dividend rights.

What happens if the number of shares you hold is not a multiple of the attribution transaction?

If the number of shares you hold is not an attribution transaction multiple, you will receive payment for the portion of the share that could not be distributed directly in your bank account. This is called a “fractional right.

Note:Fractional rights are calculated in the total sales for capital gains tax, with the amount received being taxable from the first euro.

Calculation Method

You hold 307 shares in your portfolio.

As a result, you receive 30 free shares (1 Free Share for every 10 shares held) and 0.7 fractional rights, which are “ordinary” fractional rights.

Of these 307 shares, 205 are eligible for the loyalty bonus.

As such, you receive two additional Free Shares (one Free Share for every 100 shares held) and 0.05 fractional rights, which are “loyalty” fractional rights due from the loyalty bonus. The two types of fractional rights are not fungible.

The result? After the distribution of Free Shares, you now hold 339 shares. 0.7 “ordinary” and 0.05 “loyalty” fractional rights will be paid to you by Air Liquide.

Note:Free Share attribution occurs on an account-by-account basis. As such, if you hold securities in an ordinary securities account and in a share savings plan, the fractional rights are not fungible.

Free Share attribution also occurs on a type-by-type basis. There is no fungibility of fractional rights for intermediary registered shares and bearer shares. If you purchased bearer shares, you can ask your account manager to convert them to registered in order to benefit from the loyalty bonus after you have held them for two full calendar years.

Why choose direct registered shares?

We have established a privileged relationship with our direct registered Shareholders. This translates into a number of benefits.

Why choose intermediary registered shares?

Intermediary registered shares let you stay with your financial institution and receive the loyalty bonus for shares you have held for more than two full calendar years. This type of shareholding notably lets you keep your Air Liquide securities in your share savings plan, all while maintaining your eligibility for the loyalty bonus.


You must ask your financial institution to convert your shares to intermediary registered shares, otherwise, your shares remain bearer shares and are not eligible for the loyalty bonus. Your financial institution may charge you finance fees for this conversion.

You can download our form for conversion to intermediary registered shares by clicking on the link below: 

Stay in touch with your Group!

Want to stay up-to-date with Air Liquide’s news? Subscribe to our digital communications.

As a subscriber, you can:

  • Stay informed about the Group’s news, learn about the quarterly results and receive our monthly newsletter
  • Be invited to events like Air Liquide meetings with Shareholders and other share ownership events
  • Take part in our contests, like the Night Fountains Shows at Versailles

There are two ways to subscribe:

  • For registered Shareholders, subscribe via the Shareholder Portal
  • For bearer Shareholders, click on the link below

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Shareholders' Communication Committee

With its 35 years of experience, the Shareholders' Communication Committee (SCC) aims to establish regular exchanges between the 12 members representing Shareholders, the Group's Chairman and the Air Liquide teams in charge of Shareholders. What are the Committee's missions? How can you become a member?

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