73% OF THE 2012 DIVIDEND WILL BE REINVESTED
Post Date: 04 Jul 2013 Viewed: 374
Saint-Gobain shareholders responded favorably to the dividend reinvestment option, with 72.5% of the total dividend to be paid in stock. This high reinvestment rate allows Saint-Gobain to strengthen its equity by 474 million Euros.
A total of nearly 16.9 million new shares will be issued, equivalent to 3.1% of outstanding shares.
The new shares will be issued and delivered on July 5. They will carry rights to the 2013 dividend and will rank pari passu to existing shares from the issue date. The new shares will be listed on NYSE Euronext Paris on July 5.
The share issue will have the effect of increasing Compagnie de Saint-Gobain’s share capital as of July 5 to 2,211 million Euros, represented by 552.7 million ordinary shares with a par value of 4 Euros each, all fully paid and all in the same class.
Cash dividends will also be paid on July 5, for a total of 180 million Euros.
During the Annual General Meeting of June 6, Saint-Gobain shareholders approved payment of a 2012 dividend of 1.24 Euros per share and the option to receive the dividend in cash or in Saint-Gobain shares issued at a price of 28.12 Euros per share. Shareholders that chose the stock
dividend alternative were required to notify the Company between June 12 and June 26.