EDF 2012 dividend : the french state shall opt for the payment in new shares for a portion of the 2012 dividend
In its meeting held on 13 February 2013, EDF’s Board of directors decided to propose to the Shareholders’ meeting which will take place on 30 May 2013 to approve a total dividend of €1.25 per share for 2012. The remaining dividend to be paid is €0.68 per share, given the payment of an interim dividend of €0.57 per share in December 2012.
Subject to approval at the Shareholders’ meeting, each shareholder will be offered to opt for a payment in new EDF shares for a portion of €0.10 per share on the 2012 remaining dividend to be paid. New shares will be issued at a price equal to 90% of the average of the opening prices of the EDF shares listed on the Euronext Paris regulated market over the 20 trading days prior to the date of the Shareholders’ meeting, less the amount of the 2012 remaining dividend to be paid, rounded up to the next highest euro cent.
Shareholders may exercise their option between 6 June 2013 and 26 June 2013 inclusive. After the 26 June 2013 deadline, the remaining dividend will be paid in cash only. The remainder of the dividend to be paid will be paid on 8 July 2013 (the ex-date being 6 June 2013) regardless of the payment being in shares or on cash.
The French State, EDF’s majority shareholder with 84.4% of its share capital, has confirmed it shall vote in favour of the decision at the Shareholders’ meeting of 30 May 2013 and opt for the payment in new shares for the portion of the final dividend payable in shares.
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