Final dividend 2017 Koninklijke DSM N.V.
DSM's Annual General Meeting of Shareholders (AGM) passed a resolution on 9 May 2018 to declare a dividend for the financial year 2017 of €1.85 per ordinary share, an increase of €0.10 from the €1.75 paid for 2016. An interim dividend of €0.58 per ordinary share was paid in August 2017, thus the final dividend amounts to €1.27 per ordinary share.
This final dividend of €1.27 will be paid out in cash or in the form of ordinary shares at the option of the shareholder. The dividend in cash will be paid after deduction of 15% Dutch dividend withholding tax. Stock dividend will be paid out from DSM’s own treasury shares [obtained through its share repurchase program,] and subject to the conditions as stated in the Notes to the AGM agenda.
A maximum of 40% of the total dividend amount is available for stock dividend. If shareholders wish to receive in aggregate a distribution in shares which exceeds this maximum percentage of the total dividend, those shareholders who have opted for distribution in the form of shares will receive their stock dividend on a pro rata basis, with the remainder being distributed in cash (after deducting 15% Dutch dividend withholding tax).
Announcement of Exchange Ratio
Royal DSM announces that shareholders wish to receive a distribution in stock for 40.4% (rounded) of the total dividend. The shareholders who have opted for a distribution in stock will receive stock dividend on a pro-rata basis (rounded 0.9893), with the remainder being paid out in cash (less 15% dividend withholding tax).
The Exchange Ratio of the final dividend over 2017 in shares has been determined. This will amount to 1 new ordinary DSM share as stock-dividend for every 69.0373 existing stock-entitled ordinary shares.
Based on the average weighted price of 22 May up to and including 28 May 2018 (VWAP = 87.6774), 1/69.0373 share represents a value of €1.27, which is virtually equal to the gross dividend in cash of €1.27 per ordinary share.
Both the cash dividend and stock dividend was made payable to shareholders on 1 June 2018.
For approximately 1,015,250 new ordinary shares, a request to admit the new shares for admission to trading on Euronext Amsterdam will be made pursuant to article 5:4 sub e of the Financial Markets Supervision Act (Wet op het financieel toezicht).
Paying agent: ABN AMRO Bank N.V., tel: +31 20 344 2000, fax: +31 20 628 8481, email.
Overview 2012 - 2017
|For ordinary shares
(in € )
|For Serie A cumulative preference shares|
|Total dividend (x € million)||8||8||10||10||10||10|