Carrefour dividend for financial year 2016
At the Annual General Meeting held today, Carrefour's shareholders approved the proposed €0.70 per share dividend for the 2016 financial year and decided to offer shareholders an option to receive the dividend payment in shares.
The issue price of the new shares to be issued in consideration for the dividend has been set at €20.15. This issue price represents 90% of the average opening prices quoted on the regulated market of Euronext Paris during the 20 trading days preceding the date of the Annual General Meeting, less the amount of the dividend, and rounded upward to the nearest euro cent.
The dividend ex-date is set on June 21, 2017. The shareholders may opt for the dividend payment in cash or in new shares from June 21, 2017 to July 4, 2017 included, by sending their request to their financial intermediaries. For the shareholders who have not exercised their dividend payment option by July 4, 2017, the dividend shall only be paid in cash1.
For the shareholders who have not opted for a dividend payment in shares, the dividend shall be paid in cash on July 13, 2017. For the shareholders who have opted to receive the dividend in shares, settlement and delivery of the shares will be as from July 13, 2017.
If the amount of dividends for which the option is exercised does not correspond to a whole number of shares, shareholders may choose to either receive the rounded-up whole number of shares by paying the difference in cash on the day they exercise the option or receive the rounded-down whole number of shares and the balance in cash.
The shares issued as dividend payment will carry dividend rights as from January 1, 2017. An application to list these new shares on Euronext Paris will be made. The new shares will rank pari passu with existing shares and will be fully fungible with existing shares already listed.
The maximum total number of new shares which may be issued for the purpose of the dividend payment in shares is 25,938,791 shares (excluding additional shares issued for rounding purposes), representing approximately 3.43% of the share capital and 2.79% of the voting rights of Carrefour based on the total number of shares and voting rights as of May 31, 2017.
1. ADR holders may be subject to different election and payment conditions and should consult the depositary for more information.
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