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Netherlands : Philips announces exchange ratio for 2016 dividend in shares.

Royal Philips today announced that the exchange ratio for the dividend in shares for the year 2016 has been determined. The exchange ratio is 1 new common share for every 39.7547 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of June 7, 8 and 9, 2017, of EUR 31.7738 and was calculated in a manner that the gross dividend in shares is approximately equal to the gross dividend in cash.

Shareholders were given the opportunity to make their choice between cash and shares between May 17, 2017 and June 9, 2017. If no choice was made during this election period, the dividend will be paid in cash. Both the dividend in cash and the dividend in shares will be made payable to shareholders from June 14, 2017.

For 48.3% of the shares, an election was made for a share dividend and 11,264,163 new common shares were issued, resulting in a 1.2% dilution.

Following the payment of the dividend on June 14, 2017, the total issued share capital of Philips amounts to EUR 188,181,805.40 and represents 940,909,027 ordinary shares.

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Publication:Mena Report
Date:Jun 15, 2017
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