Amsterdam, the Netherlands, Jun. 12 (Korea Bizwire) – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that the exchange ratio for the dividend in shares for the year 2018 has been determined. The exchange ratio is 1 new common share for every 41.6233 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of June 5, 6 and 7, 2019, of EUR 35.3498 and was calculated in a manner that the gross dividend in shares is approximately equal to the gross dividend in cash.
Shareholders were given the opportunity to make their choice between cash and shares between May 15, 2019 and June 7, 2019. If no choice was made during this election period, the dividend will be paid in cash. Both the dividend in cash and the dividend in shares will be made payable to shareholders from June 13, 2019.
For 41.5% of the shares, an election was made for a share dividend, resulting in the issuance of 9,079,538 new common shares. Upon payment of the dividend, the total issued share capital will amount to EUR 187,055,015.40, representing 935,275,077 common shares. After deduction of treasury shares, the total number of outstanding shares will be 909,194,188 shares (2018: 931,657,897). Philips expects to cancel approximately 30,000,000 treasury shares in June 2019.
For further information, please contact:
Martijn van der Starre
Philips Group Press Office
Tel.: +31 6 2847 4617
Philips Investor Relations
Tel.: +31 20 5977055
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2018 sales of EUR 18.1 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Source: Philips International B.V. via GLOBE NEWSWIRE