The Annual Shareholders’ Meeting, held on 1 June 2018 under the chairmanship of Patrick Pouyanné, declared a dividend for 2017 of €2.48 per share, an increase of 1.2% compared to the 2016 dividend. Taking into account the three interim dividends of €0.62 per share paid on 12 October 2017, 11 January 2018, and 9 April 2018, the final 2017 dividend to be paid is €0.62 per share.
In addition, the Annual Shareholders’ Meeting decided that shareholders will be given the option to receive payment of the 2017 final dividend in cash or in new shares of the company, each choice being exclusive of the other.
In line with the shareholder return policy announced on 8 February 2018, in order to avoid any dilution linked to the issuance of new shares, the Group will buy back during the quarter the newly issued shares with the intention to cancel them.
The share price of new shares to be issued as payment of the final dividend is set at €52.03. This price is equal to the average opening price on the Euronext Paris for the 20 trading days preceding the Annual Shareholders’ Meeting, reduced by the amount of the final dividend, without any discount, and rounded up to the nearest cent. Shares issued as payment of the final dividend will carry immediate dividend rights, and an application will be made to admit the shares for trading on the Euronext Paris.
The ex-dividend date for the final dividend is set for 11 June 2018. Shareholders may select to receive the final dividend payment in new shares during the period from 11 June 2018 to 20 June 2018, both dates inclusive, by instructing their financial brokers.
For Total’s American Depositary Shares (ADS), the ex-dividend date for the final 2017 dividend is set for 7 June 2018. ADS holders may select to receive the final dividend payment in new shares during the period from 11 June 2018, to 15 June 2018, both dates inclusive, by instructing their financial brokers.
Shareholders who do not elect to receive the final dividend payment in new shares within the specified timeframe will receive the final dividend due to them in cash. The date for the payment in cash is planned for 28 June 2018.
For shareholders who elect to receive the final dividend in shares, the date for the delivery of the shares is planned for 28 June 2018. For holders of Total’s American Depositary Receipts, the delivery of the ADSs is planned for 6 July 2018.
If the amount of the final dividend for which the option is exercised does not correspond to a whole number of shares, the shareholders may opt to receive either the number of shares immediately above, having paid a cash adjustment on the day they exercise their option, or the number of shares immediately below, plus a balancing cash adjustment.
Read the article online at: https://www.worldpipelines.com/business-news/01062018/total-announces-the-distribution-of-the-final-2017-dividend/