The Annual Shareholders’ Meeting held on 1 June 2018 approved the payment of an annual dividend for fiscal year 2017 of €2.48 per share and offered the shareholders the choice to receive the final 2017 dividend of €0.62 per share in cash or in new shares of the Company.
The period for exercising the option ran from 11 June to 20 June 2018. At the end of the option period, 19% of rights were exercised in favour of receiving the payment for the final 2017 dividend in shares.
5 798 335 new shares will be issued, representing 0.22% of the Company’s share capital on the basis of the share capital as of 31 May 2018. The share price for the new shares to be issued as payment of the final 2017 dividend was set at €52.03 on 1 June 2018. The price is equal to the average opening price on Euronext Paris for the twenty trading days preceding 1 June 2018, the date of the Annual Shareholders’ Meeting, reduced by the amount of the final dividend, without any discount.
The settlement and delivery of the new shares as well as their admission to trading on Euronext Paris will occur on 28 June 2018. The shares will carry immediate dividend rights and will be fully assimilated with existing shares already listed.
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 remaining cash dividend to be paid to shareholders who did not elect to receive the final 2017 dividend in shares amounts to €1328 million and the date for the payment in cash is set for 28 June 2018.
Read the article online at: https://www.worldpipelines.com/business-news/27062018/total-announces-results-of-2017-dividend/