Meet our Shareholders

What prompted you to invest in Air Liquide?

Josette G.: My husband got a job with Air Liquide in 1962 and that was when he started to invest. He wanted to pass on the shares to our grandchildren. When he died, my two sons and two grandsons inherited part of his portfolio. I hold my Air Liquide shares with the same determination to keep them in the family. 

Anouck V.: A friend told me I should buy Air Liquide shares directly from the Group. Over several months I looked closely at the company’s vision, values, but also its share performance and returns over time. It’s still the only company that I hold shares in, although I invest in other kinds of assets. 

Bernard L.: I inherited my mother’s equity portfolio when she died. I decided to sell everything except Air Liquide. As an engineer I had a positive image in my mind of the company and I saw the stock as the ideal safe long-term investment.

Why do you hold shares directly with Air Liquide? 

Pierre I.: I bought my first Air Liquide shares in bearer form. I switched to being a direct registered Shareholder a year ago along with my daughter. She’s only 2.5 years old, but she’s already an Air Liquide Shareholder. For me, it’s about passing on not just financial assets, but also values. 

Frédérique-Love N.: Same here. At the outset, my investments were about being ready for the future, including my own retirement and my children’s education. After investing, I encouraged my children to do likewise and invest directly with Air Liquide, bypassing intermediary financial institutions. That gave them a good first experience of share ownership. 

Benjamin Pierrin: Passing on shares is an important topic for our Shareholders. Under French tax law, there are different ways to do this. A “customary gift” is a way to give a present to a loved one. A “hand-to-hand gift” or “simple gift” can be used to make a more substantial donation to an individual or a charity, which you can do by yourself or before a notary. A “shared gift” is an option to pass on your shares to your children. In the last of these cases, a notarized deed records the gift, which may not then be added to the grantor’s estate.

Bernard L.: I switched quickly to being a registered Shareholder after being advised to do so by a friend. It’s a great option because you’re automatically entitled to the loyalty bonus. About seven years ago, my spouse and I gifted shares to each of our four children, while continuing to receive the associated benefits under a usufruct arrangement. 

Annabelle Barnett: There are a number of benefits to holding registered shares directly with Air Liquide or via a financial institution. Shareholders get a 10% bonus on their dividends and a 10% allocation of free shares upon each payout, subject to certain conditions. The loyalty bonus is a way to thank Shareholders over the long run. 

Do environmental, social, and governance issues matter to you?

Frédérique-Love N.: As an individual, we can never have the same impact as a company. Investing in big issues, such as decarbonization, hydrogen, and health, is the best way to take action for the future. 

Pierre I.: I couldn’t possibly put my money into a non-virtuous company, especially over a long investment horizon. 

Anouck V.: These questions are not just important, they’re critical! Because they make it possible to raise living standards, health, energy, and high technology are priority issues for our future. Performance and social impact are both essential to a good investment. 

Josette G.: It is an important topic, especially for my grandchildren. They want to invest in a company that is part of the solution, not the problem.

Annabelle Barnett: Shareholders are increasingly sensitive to these questions, particularly as regards health and decarbonization, the former because it resonates with their own concerns, and the latter because many Shareholders are keenly aware of the question of the climate transition.

What are the strengths of Air Liquide’s dialogue with its Shareholders?

Frédérique-Love N.: Air Liquide really pays attention to its individual Shareholders and keeps us in the loop through webinars and newsletters, for example. I’ve also taken part in the last two Annual General Meetings, as exercising my right to vote is very important to me. 

Saphia Lesieur: We try to foster a close relationship with our individual Shareholders. In addition to the Annual General Meeting, we hold meetings four to six times a year in cities around France, where we present the Group and field questions from Shareholders. We have a number of ways of keeping in touch with them throughout the year: by telephone, e-mail (including a monthly newsletter), and a dedicated space at the Group headquarters, the “Shareholder Lounge”, where they can meet us directly. We have created four comic strips that cater to different age groups, from ages three to 18, to teach our youngest Shareholders about share ownership and the stock market, and to explain what Air Liquide does. 

Take a look at our Shareholders portraits here!