Philips announces exchange ratio for 2010 dividend in shares
Amsterdam, The Netherlands – Royal Philips Electronics (NYSE: PHG, AEX: PHI) today announced that the exchange ratio for the dividend in shares for the year 2010 has been determined. The exchange ratio is 1 new common share for every 26.0742 existing common shares. This ratio was based on the volume weighted average price on NYSE Euronext Amsterdam of April 27, 28 and 29, 2011 of EUR 20.1070 and was calculated in a manner that dividend in shares is approximately 3% higher than the gross dividend in cash.
Both the dividend in cash and the dividend in shares will be made payable to shareholders from May 4, 2011. Dividend in shares is subject to 15% dividend withholding tax, but only in respect of the par value of the shares (EUR 0.20 per share). The dividend withholding tax per new share is EUR 0.035294118. This withholding tax in case of dividend in shares will be borne by Philips.
Around 63.0% elected for a share dividend resulting in the issue of 22,896,661 new common shares, leading to a 2.4% percent dilution. Per May 4, 2011 the issued share capital of Philips amounts to EUR 201,795,089.00 and is represented by 1,008,975,445 ordinary shares.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.