Heerlen, NL, 08 May 2020 17:31 CEST
The DSM Annual General Meeting of Shareholders passed a resolution on 8 May 2020 to declare a dividend for the financial year 2019 of €2.40 per ordinary share, an increase of €0.10 (about 4%) from the €2.30 paid for 2018. An interim dividend of €0.77 per ordinary share having been paid in August 2019, the final dividend thus amounts to €1.63 per ordinary share.
At the discretion of the shareholder, the final dividend will be made available in cash or, under the conditions set out below, in ordinary shares of DSM. The period in which this choice can be made is from 14 May 2020 to 27 May 2020 (15:00 CEST). To the extent the final dividend is paid out in shares, these shares will be primarily transferred out of the own shares DSM holds in stock. Should the total number of own shares not be sufficient, additional shares will be acquired. The stock dividend is paid from the tax-exempt share premium reserve and thus free from withholding tax in the Netherlands. Where shareholders have opted to receive their dividend in shares, the corresponding cash value of €1.63 per ordinary share will be deducted from the profit attributable to shareholders and added to the reserves. In order to avoid negative tax consequences for DSM, a maximum of 40% of the total dividend amount is available for stock dividend. If shareholders in total wish to receive in aggregate a distribution in shares which exceeds this maximum percentage of the total dividend, those shareholders who have opted for distribution in the form of shares will receive their stock dividend on a pro rata basis, with the remainder being distributed in cash.
The conversion rate of the stock dividend to that of the cash dividend will be determined on 28 May 2020 based on the Volume Weighted Average Price ('VWAP') of all DSM shares traded on Euronext Amsterdam ('Euronext') over a period of five trading days from 21 May 2020 up to and including 27 May 2020. The value of the stock dividend, based on this VWAP, will - subject to rounding - be equal to the cash dividend. There will be no trading in stock dividend rights.
The ex-dividend date will be 12 May 2020, the record date 13 May 2020 and the dividend will be payable as from 3 June 2020.
Koninklijke DSM NV published this content on 08 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2020 15:38:03 UTC