Dividend Information
Dividend policy
Our dividend policy is to pay a stable to rising dividend each year, following our expected growth in cash generation. An interim and a final dividend will be paid, where cash dividend is default and stock dividend optional.
2011 dividend of €1.45 per share
Our total 2011 dividend is €1.45 per share, this represents an increase of 4 percent versus 2010. The dates for the final 2011 dividend payment are listed in our calendar.
The dividend paid over the last five years is shown in the graph below.
Dividend paid in € per share
Announcement of exchange ratio
The formula used for calculating the number of shares to be received by a participating shareholder for each dividend declared equals the number of shares held at dividend record date / exchange ratio.
The exchange ratio is calculated using the volume weighted average price between 16 May 2012 and including 18 May 2012 divided by the gross dividend amount per share. No additional premium is considered for a scrip dividend. For the 2011 final dividend, the exchange ratio will amount to 1 new ordinary share for every 32.9641 existing ordinary shares. Based on the average weighted price of 16 May up to and including 18 May 2012 of EUR 36.9198, 1/32.9641 the share represents a value of EUR 1.12, which is virtually equal to the gross dividend in cash of EUR 1.12 per ordinary share. Both the cash dividend and scrip dividend will be made payable to shareholders on 24 May 2012.
No fractional entitlements will be issued to persons, but settled for cash. In general, banks or financial institutes will round down fractional entitlements (and remit cash in lieu of fractional entitlements) or round up fractional entitlements (subject to receipt of the requisite funds from the clients), in each case in accordance with the custodial arrangements banks or financial institutions are having with you.
For approximately 2,585,518 new ordinary shares, a request to admit the new shares for admission to trading on Euronext Amsterdam will be made pursuant to article 5:4 sub e of the Financial Markets Supervision Act (Wet op het financieel toezicht).