HEERLEN, the Netherlands, May 3, 2017 /PRNewswire/ --
The DSM Annual General Meeting of Shareholders passed a resolution on 3 May 2017 to declare a dividend for the financial year 2016 of EUR1.75 per ordinary share. An interim dividend of EUR0.55 per ordinary share having been paid in August 2016, the final dividend for the financial year 2016 will amount to EUR1.20 per ordinary share.
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This final dividend of EUR1.20 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 supported by 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 5 May 2017 and the record date will be 8 May 2017.
Shareholders have from 9 May until 22 May 2017 (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 23 May 2017 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 16 May 2017 up to and including 22 May 2017. 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 2017 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 26 May 2017.
The following timetable applies:
5 May 2017: Ex-dividend quotation
8 May 2017: Record Date
9 May 2017 - 22 May 2017 (3.00 pm CET): Period in which shareholders can indicate their choice
23 May 2017 (COB): Announcement of the exchange ratio
As from 26 May 2017: Delivery of shares or cash payment
DSM - Bright Science. Brighter Living.(TM)
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in life sciences and materials sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM and its associated companies deliver annual net sales of about EUR10 billion with approximately 25,000 employees. The company 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.
For more information:
DSM Corporate Communications
DSM Investor Relations