Dividend
Dividend policy
DSM’s dividend policy is to provide a stable and preferably rising dividend. The Annual General Meeting of shareholders decides on the final dividend. The Ex-dividend date is the second business day after the AGM. The dividend record date is three business days after the AGM. Barring unforeseen circumstances, DSM pays an interim dividend to holders of ordinary shares after the results of the first half-year have been published. This interim dividend is set at one third of the total dividend over the previous year and gives no indication for the total dividend to be paid over the running year. The dividend record date is three business days after publication of the H1 results.
Final dividend 2011
The DSM Annual General Meeting of Shareholders on 11 May 2012 passed a resolution to declare a dividend for 2011 of €1.45 per ordinary share of €1.50 par value. An interim dividend of €0.45 per ordinary share having been paid on 26 August 2011, the final dividend for 2011 will amount to €1.00 per ordinary share. With the passing of the resolution by the AGM, and in line with DSM's policy to provide a stable and preferably rising dividend, 2011 marks the second consecutive year DSM's dividend has been increased.
This final dividend of €1.00 will be paid out in cash or in the form of ordinary shares at the option of the shareholder. Dividend in cash will be paid after deduction of 15% Dutch dividend withholding tax. The ex-dividend date on NYSE Euronext will be 15 May 2012 and the record date will be 17 May 2012.
Shareholders have from 18 May until 1 June 2012 (3.00 pm CET) to indicate their choice. On 4 June 2012 after the close of trading on NYSE Euronext the number of dividend rights of ordinary shares entitling the holder to one ordinary share will be determined.
This exchange ratio will be based on the volume weighted average price of all ordinary shares in DSM traded at NYSE Euronext on 28 May 2012 up to and including 1 June 2012. The value of the stock dividend will be virtually equal to the value of the cash dividend. The ordinary shares that constitute the stock dividend are entitled to any dividend for the financial year 2012 and to the dividends for subsequent financial years. Stock dividend rights will not be traded on NYSE Euronext.
The following timetable applies:
15 May 2012: Ex-dividend quotation
17 May 2012: Record Date
18 May 2012 – 1 June 2012(3.00 pm CET): Period in which shareholders can indicate their choice
04 June 2012 (COB): Announcement of the exchange ratio
06 June 2012: Delivery of shares or cash payment
Interim dividend 2011
DSM’s dividend policy is to provide a stable and preferably rising dividend. It has been decided to pay an interim dividend of €0.45 (+12.5%) per ordinary share for the year 2011. As usual, this represents one third of the total dividend paid for the previous year. The interim dividend is no indication of the total dividend for 2011. The dividend will be payable in cash or in the form of ordinary shares, at the option of the shareholder. Dividend in cash will be paid after deduction of 15% Dutch dividend withholding tax. The ex-dividend date is 3 August 2011. The interim dividend will be payable as from 26 August 2011.
Dividend 2010 & Stock Option Dividend
The DSM Annual General Meeting of Shareholders on 28 April 2011 passed a resolution to declare a dividend for 2010 of € 1.35 per ordinary share of € 1.50 par value. An interim dividend of € 0.40 per ordinary share having been paid on 27 August 2010, the final dividend for 2010 will amount to € 0.95 per ordinary share.
This final dividend of € 0.95 will be paid out in cash or in the form of ordinary shares at the option of the shareholder. Dividend in cash will be paid after deduction of 15% Dutch dividend withholding tax. The ex-dividend date on NYSE Euronext was 2 May 2011 and the record date was 4 May 2011.
Both the dividend in cash and the dividend in shares will be made payable to shareholders from 25 May 2011. Around 39% elected for a dividend in shares resulting in 1,330,425 ordinary shares to be paid as stock dividend.
Overview 2007 - 2011
| For ordinary shares (in € ) | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|
| Interim dividend | 0.45 | 0.40 | 0.40 | 0.40 | 0.33 |
| Year-end dividend | 0.95 | 0.80 | 0.80 | 0.87 | |
| Total dividend | 1.35 | 1.20 | 1.20 | 1.20 | |
For Serie A cumulative preference shares |
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| Total dividend (x € million) | 10 | 10 | 10 | 10 | 10 |
