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On 8 May 2019 DSM’s Annual General Meeting of Shareholders passed a resolution to declare a dividend for the 2018 financial year of €2.30 per ordinary share, an increase of €0.45 (24%) on the €1.85 paid for 2017. An interim dividend of €0.77 per ordinary share was paid in August 2018, thus the final dividend amounted to €1.53 per ordinary share. The ex-dividend date on Euronext Amsterdam was 10 May 2019 and the record date was 13 May 2019.
This final dividend of €1.53 was paid out in cash or in the form of ordinary shares at the option of the shareholder. Dividend in cash was paid after deduction of 15% Dutch dividend withholding tax. The stock dividend was paid out from DSM’s own treasury shares (obtained through its share repurchase program) and subject to the conditions as stated in the Notes to the AGM Agenda. As the % of shareholders that wished to receive stock dividend was below the 40% set as maximum for the stock dividend, no scaling down was required.
The Exchange Ratio of the final dividend for 2018 in shares amounted to 1 new ordinary DSM share as stock-dividend for every 66.0527 existing stock-entitled ordinary shares. Based on the average weighted price of 21 May up to and including 27 May 2019 (VWAP = €101.0606 as VWAP), 1/66.0527 share (with VWAP of €101.0606) this represented a value of €1.53, which is virtually equal to the gross dividend in cash of €1.53 per ordinary share.
Both the cash dividend and stock dividend were made payable to shareholders on 3 June 2019.
The 2019 interim dividend of €0.77 per ordinary share will be payable as from 26 August 2019. This interim dividend represents about one third of the total dividend paid over the prior year. The interim dividend will be payable in cash or in the form of ordinary shares at the option of the shareholder, with a maximum of 40% of the total dividend amount available for stock dividend.
Shareholders had from 7 August until 20 August 2019 (15:00 CEST) to indicate - through their bank or broker - to ABN AMRO Bank N.V., if they wished to receive their dividend in the form of ordinary shares, otherwise it will be distributed in cash. In case they make no choice, dividend in cash is the default option, unless the shareholders have agreed differently with their bank or broker. The election deadline for securities (dividend in ordinary shares) is 20 August 2019 15:00 CEST. After this deadline, only the cash option is available. The default option for shareholders holding their shares in the IQEQ register is dividend in ordinary shares.
The ex-dividend date was 5 August 2019 and the record date was 6 August 2019.
The Exchange Ratio of the interim dividend 2019 in shares amounted to 1 new ordinary DSM share as stock-dividend for every 141.0879 existing stock-entitled ordinary shares. Based on the average weighted price of 14 August up to and including 20 August 2019 (VWAP = €108.6377), 1/141.0879 share (with VWAP of €108.6377) represents a value of €0.77, which is virtually equal to the gross dividend in cash of €0.77 per ordinary share.
Payment of the dividend on the ordinary shares and delivery of ordinary shares, with settlement of fractions in cash, if required, will take place as from 26 August 2019 based on the number of dividend rights delivered.
Paying agent: ABN AMRO Bank N.V., tel: +31 20 344 2000, fax: +31 20 628 8481, email.