Total: Second Interim Dividend: The Board of Directors Decides to Remove the Discount on the Scrip Dividend
December 12 2017 - 12:57PM
Business Wire
Regulatory News:
The Board of Directors of Total (Paris:FP) (LSE:TTA) (NYSE:TOT)
met on December 12, 2017 and declared a 2017 second interim
dividend of €0.62 per share, in accordance with the Board’s
decision of July 26, 2017, unchanged compared to the 2017 first
interim dividend and representing an increase of 1.6% compared to
the 2016 second interim dividend. The Board of Directors also
decided to offer, under the conditions set by the fourth resolution
at the Combined Shareholders’ Meeting of May 26, 2017, the option
for shareholders, including holders of its American Depositary
Shares, to receive the 2017 second interim dividend in cash or in
new shares of the Company.
Given current oil prices above 60 $/b and the performance of the
Group in terms of cash-flow generation in such environment, the
Board of Directors has decided to remove the discount offered on
the share price for the new shares to be issued as payment of the
2017 second interim dividend. As a result, the share price for the
new shares to be issued is set at €46.55, equal to the average
opening price on Euronext Paris for the twenty trading days
preceding the Board of Directors on December 12, 2017, reduced by
the amount of the interim dividend, rounded up to the nearest cent.
Shares issued as payment of the 2017 second interim dividend will
carry immediate dividend rights. An application will be made to
admit the new shares for trading on the Euronext Paris market.
The ex-dividend date for the 2017 second interim dividend is set
for December 19, 2017. Shareholders may select to receive the 2017
second interim dividend payment in new shares during the period
from December 19, 2017, to January 3, 2018, both dates inclusive,
by instructing their financial advisors.
For Total’s American Depositary Shares (ADS), the ex-dividend
date for the 2017 second interim dividend is set for December 15,
2017. ADS holders may select to receive the 2017 second interim
dividend payment in new shares during the period from December 19,
2017, to December 28, 2017, both dates inclusive, by instructing
their financial brokers.
Shareholders who do not select to receive the 2017 second
interim dividend payment in new shares within the specified
timeframe will receive the 2017 second interim dividend due to them
in cash. The date for the payment in cash is planned for January
11, 2018.
For shareholders who elect to receive the 2017 second interim
dividend in shares, the date for the delivery of the shares is
planned for January 11, 2018. For holders of Total’s American
Depositary Receipts, the delivery of the ADSs is planned for
January 19, 2018.
If the amount of the 2017 second interim dividend for which the
option is exercised does not correspond to a whole number of
shares, the shareholders may opt to receive either the number of
shares immediately above, having paid a cash adjustment on the day
they exercise their option, or the number of shares immediately
below, plus a balancing cash adjustment.
About Total
Total is a global integrated energy producer and provider, a
leading international oil and gas company, and a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits. total.com
* * * * *
Cautionary note
This news release is provided for information purposes only and
does not constitute an offer to purchase securities. This news
release and any other document relating to payment of dividends in
shares may only be published outside of France in conformity with
applicable local laws and regulations and shall not constitute an
offer for securities in jurisdictions where such an offer would
violate applicable local law. The option to receive the 2017 second
interim dividend in shares is not open to shareholders residing in
any jurisdiction where such option would give rise to a
registration requirement or require the granting of any
authorization from local securities regulators; shareholders
residing outside of France are required to inform themselves of any
restrictions which may apply under their local law and comply with
such restrictions. Shareholders must inform themselves of the
conditions and consequences of the exercise of such option, which
may be applicable under local law. In making their decision to
receive the dividend in shares, shareholders must consider the
risks associated with an investment in shares.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171212006143/en/
TotalMedia Relations: +33 1 47 44 46
99presse@total.com@TotalPressorInvestors Relations: +44 (0)207 719
7962ir@total.com
TOTAL (NYSE:TOT)
Historical Stock Chart
From Aug 2024 to Sep 2024
TOTAL (NYSE:TOT)
Historical Stock Chart
From Sep 2023 to Sep 2024