Veolia (VIE.PA) dividend yield and history

By Olivier Lachance · Report of November 8, 2026 · PAR: VIE.PAHow this report is made

What is the Veolia (VIE.PA) dividend yield?

Veolia (VIE.PA) dividend

4.4 %dividend yield at the €33.78 close of November 6, 2026

€1.50a share paid in 2025, our report

Paid in 2025: €1.50 a share, up from €1.00 in 2021

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Executive summary + 8 chapters · 23,448 words · 208 sources

Is Veolia a good dividend stock? Does its cash cover the dividend?

Our report makes no buy or sell call. It checks the dividend against free cash flow, the cash the business has left after paying for buildings and equipment.

The 4.4% dividend yield exceeds the 2.9% real free-cash-flow yield. Applied to the same equity value, those measures imply roughly €1.09 billion of dividends against €0.72 billion of real free cash flow. Veolia’s own 2025 figures were stronger: net free cash flow was €1.18 billion, against €1.02 billion of parent-company dividends paid. But maintenance cannot be wished away. Of €4.06 billion of gross industrial investment in 2025, €1.91 billion was maintenance investment. The dividend therefore depends on recurring cash after preserving the business.

2025131.7 %
2024124.0 %

Dividends as a share of free cash flow (our arithmetic on the report's figures). Past the dashed line, the dividend cost more than the cash.

What does Veolia's dividend yield mean for your return?

It is the part of your return paid in cash: a year of dividends as a share of the share price, at the November 6, 2026 close.

4.4%Dividend yield

Today’s price is a claim on Veolia’s equity, but the operating business also carries claims from lenders and other providers of capital. At €33.78 a share, the market values shareholders’ ownership at €24,727 million. Enterprise value is €47,007 million because it measures the business available to both shareholders and lenders. Like a house bought with a mortgage, the business is worth more than the owner’s deposit. The two figures use particular dates and definitions, so their difference is not automatically Veolia’s current net debt.

What could change Veolia’s dividend?

From 2027 to 2029, Clean Earth and WTS integration savings, completed disposals and falling net debt would support the bull case. Booster growth and higher ROCE would strengthen the case for margin expansion and a higher P/E.

How much does Veolia pay per share?

Dividends rise cautiously in the base case, from €1.60 to €1.80 per share across the forecast windows. The bear cuts the payment to €1.40 and freezes it; the bull reaches €2.05. The base is below the historical dividend growth rate because real free cash flow was €718 million against €1.023 billion of dividends paid in 2025. Negative nine-month free cash flow and a €1.488 billion working-capital outflow justify the downside case.

Results · EUR millions; per share in EUR · 2025

Revenue44,396
EPS, diluted1.70
Dividend per share1.50

Questions about the Veolia (VIE.PA) dividend

Does Veolia pay a dividend?

Yes. It paid €1.50 a share in 2025.

What is the dividend on €100 of Veolia shares?

About €4.40 a year at the 4.4 % dividend yield: €100 buys 3.0 shares at the November 6, 2026 close.

Is Veolia's dividend covered by its cash?

Not every year. Dividends took 131.7 % of free cash flow in 2025 and 124.0 % in 2024 (our arithmetic on the report's figures).

Where could Veolia stock be by 2029?

Our report's forecast is €37.12 a share by November 2029, from the €33.78 close of November 6, 2026. Veolia stock forecast →

This page shows the dividend. The report shows whether the cash pays for it.

The full report: an executive summary and 8 chapters, 23,448 words, 54 tables. Its first page opens here, no account needed.

How it is made: AI reads Veolia's filings, writes the report, checks the numbers against them and cites each source, 208 in this one. How we work · Corrections