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Dividend policy

DSM’s policy is to provide a stable and preferably rising dividend to its shareholders.  
Dividend per ordinary share over financial year

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 € )
2017 2016 2015 2014 2013 2012
Interim dividend 0.58 0.55 0.55 0.55 0.5 0.48
Year-end dividend 1.27 1.2 1.1 1.1 1.15 1.02 
Total dividend 1.85 1.75 1.65 1.65 1.65 1.50 
For Serie A cumulative preference shares            
Total dividend (x € million) 8 8 10 10 10  10

Return on Share