Final dividend 2017 Royal DSM
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. 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. The ex-dividend date on Euronext Amsterdam will be 11 May 2018 and the record date will be 14 May 2018.
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).
Shareholders have from 15 May until 28 May 2018 (3.00 pm CET) to indicate if they wish to receive their dividend in the form of ordinary shares, otherwise it will be distributed in cash. The conversion rate between the cash dividend and the stock dividend will be determined on 29 May 2018 after the close of trading on Euronext Amsterdam. This exchange ratio will be based on the volume weighted average price of all ordinary shares in DSM traded at Euronext Amsterdam over a period of five trading days from 22 May 2018 up to and including 28 May 2018. 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 2018 and to the dividends for subsequent financial years. Stock dividend rights will not be traded on Euronext Amsterdam.
The dividend will be payable as from 1 June 2018. The following timetable applies:
- 11 May 2018: Ex-dividend quotation
- 14 May 2018: Record Date
- 15 May 2018 - 28 May 2018 (3.00 pm CET): Period in which shareholders can indicate their choice
- 29 May 2018 (COB): Announcement of the exchange ratio
- As from 1 June 2018: Delivery of shares or cash payment