AkzoNobel's dividend policy is to pay a stable to rising dividend each year. Cash dividend is default, stock dividend is optional.
The total dividend for financial year 2017 is EUR 2.50 per share, paid as an interim and final dividend. For details of the final dividend, please see text below.
In addition, the Board of Management of Akzo Nobel N.V. announced a special cash dividend of EUR 4.00 per ordinary share with a nominal value of EUR 2.00 each. This was paid on December 7, 2017 as advanced proceeds relates to the separation of Specialty Chemicals.
Final dividend for the financial year 2017
The dividend for the financial year 2017 is EUR 2.50 per ordinary share with a nominal value of EUR 2.00 each. After deduction of the interim dividend for 2017 of EUR 0.56, the remaining of the final dividend is EUR 1.94.
The distribution will be payable either wholly in cash or in new ordinary shares out of the share premium reserve, at the option of the shareholder. A maximum of 40% of the total dividend amount will be available for stock dividend. Dividend in cash will be paid through deduction of 15% Dutch dividend withholding tax. If more than 40% of the total dividend is requested by the shareholders to be paid out in shares, those shareholders who have chosen to receive their dividend in shares will receive their stock dividend on a pro rata basis, the remainder being paid out in cash after deducting the above mentioned 15% Dutch dividend withholding tax.
Shareholders are given the opportunity from 3 May, 2018 up until 17 May 2018 (3.00 p.m. CET) to indicate their choice. On 18 May 2018 after the close of trading on Euronext in Amsterdam, the number of share dividend rights of the ordinary shares entitling to one new ordinary share will be determined (the “Exchange Ratio”). This Exchange Ratio is based on the volume weighted average price of all traded ordinary shares in Akzo Nobel N.V. at Euronext Amsterdam during the period from 10 May 2018 up to and including 17 May 2018. After determination, the Exchange Ratio will be published on 18 May 2018.
Amsterdam, 26 April 2018
Announcement of exchange ratio
Akzo Nobel N.V. announces that shareholders wish to receive a distribution in stock for 40.94% of the total dividend. The shareholders who have opted for a distribution in stock will receive stock dividend on a pro-rata (0.977039570 = 40/40.94 part) basis, with the remainder being paid out in cash (less 15% dividend withholding tax).
The exchange ratio of the final dividend financial year 2017 in shares has been determined as 1 new ordinary share for every 38.8460 existing ordinary shares. Based on the average weighted price of 10 May up to and including 17 May 2018 of EUR 75.3612, this ratio (1/38.8460) represents a value of EUR 1.94, which is virtually equal to the gross dividend in cash of EUR 1.94 per ordinary share. Both the cash dividend and stock dividend will be transferred to shareholders on 25 May 2018.
For approximately 2,606,788 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).
Amsterdam, 18 May 2018
|Financial year||Interim||Ex div date||Date paid||Final||Ex div date||Date paid||Total|
|2017||0.56||Oct 20, 2017||Nov 22, 2017||1.94||April 30, 2018||May 25, 2018||2.50|
|2016||0.37||Oct 21, 2016||Nov 23, 2016||1.28||April 27, 2017||May 24, 2017||1.65|
|2015||0.35||Oct 26, 2015||Nov 26, 2015||1.20||April 22, 2016||May 19, 2016||1.55|
|2014||0.33||Oct 23, 2014||Nov 25, 2014||1.12||April 24, 2015||May 19, 2015||1.45|
|2013||0.33||Oct 23, 2013||Nov 26, 2013||1.12||May 2, 2014||May 28, 2014||1.45|
|2012||0.33||Oct 22, 2012||Nov 23, 2012||1.12||April 30, 2013||May 29, 2013||1.45|
|2011||0.33||Oct 24, 2011||Nov 24, 2011||1.12||April 25, 2012||May 24, 2012||1.45|
|2010||0.32||Oct 25, 2010||Nov 03, 2010||1.08||April 29, 2011||May 10, 2011||1.40|
|2009||0.30||Oct 28, 2009||Nov 06, 2009||1.05||April 30, 2010||May 11, 2010||1.35|