HEERLEN, Netherlands, May 8, 2019 /PRNewswire/ --
Shareholders passed a resolution on 8 May 2019 to declare a dividend for the financial year 2018 of €2.30 per ordinary share, an increase of €0.45 (about 25%) from the €1.85 paid for 2017. An interim dividend of €0.77 per ordinary share was paid in August 2018, thus the final dividend amounts to €1.53 per ordinary share.
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This final dividend of €1.53 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 10 May 2018 and the record date will be 13 May 2019.
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 14 May until 27 May 2019 (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 28 May 2019 after the close of trading on Euronext Amsterdam. This exchange ratio will be based on the volume weighted average price (VWAP) of all ordinary shares in DSM traded at Euronext Amsterdam over a period of five trading days from 21 May 2019 up to and including 27 May 2019. 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 2019 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 3 June 2019. The following timetable applies:
- 10 May 2019: Ordinary Shares ex-dividend
- 13 May 2019: Record Date
- 14 May 2019 - 27 May 2019 (3.00 pm CET): Period in which shareholders can indicate their choice
- 21 May - 27 May: VWAP determination (based on period 21 May 2019 up to and including 27 May 2019)
- 28 May 2019 (COB): Announcement of the exchange ratio
- As from 3 June 2019: Delivery of shares or cash payment
DSM - Bright Science. Brighter Living.™
Royal DSM is a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM's purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders - customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at http://www.dsm.com.
This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.