Dividend on ordinary shares

Koninklijke DSM N.V.

Dividend on ordinary shares Koninklijke DSM N.V.

DSM’s policy is to provide a stable and preferably rising dividend to its shareholders. These dividends are paid out in cash or in the form of ordinary shares at the option of the shareholders, with a maximum of 40% of the total dividend amount available for stock dividend. 

Dividend per ordinary share over financial year (€)

Final dividend 2020

DSM's Annual General Meeting of Shareholders passed a resolution on 6 May 2021 to declare a dividend for the financial year 2020 of €2.40 per ordinary share, a stable dividend versus the €2.40 paid for 2019. An interim dividend of €0.80 per ordinary share having been paid in August 2020, the final dividend thus amounts to €1.60 per ordinary share.

At the discretion of the shareholder, the final dividend will be made available in cash or, under the conditions set out below, in ordinary shares of DSM. The period in which this choice can be made is from 12 May 2021 to 25 May 2021 (15:00 CEST). To the extent the final dividend is paid out in shares, these shares will be primarily transferred out of the own shares DSM holds in stock. Should the total number of own shares not be sufficient, additional shares will be acquired. The stock dividend is paid from the tax-exempt share premium reserve and thus free from withholding tax in the Netherlands. Where shareholders have opted to receive their dividend in shares, the corresponding cash value of €1.60 per ordinary share will be deducted from the profit attributable to shareholders and added to the reserves. In order to avoid negative tax consequences for DSM, a maximum of 40% of the total dividend amount is available for stock dividend. If shareholders in total wish to receive in aggregate a distribution in shares which exceeds this maximum percentage of the total dividend, those shareholders who have opted for distribution in the form of shares will receive their stock dividend on a pro rata basis, with the remainder being distributed in cash.

The conversion rate of the stock dividend to that of the cash dividend will be determined on 26 May 2021 based on the Volume Weighted Average Price (‘VWAP’) of all DSM shares traded on Euronext Amsterdam (‘Euronext’) over a period of five trading days from 19 May 2021 up to and including 25 May 2021. The value of the stock dividend, based on this VWAP, will - subject to rounding - be equal to the cash dividend. There will be no trading in stock dividend rights.

The ex-dividend date will be 10 May 2021, the record date 11 May 2021 and the dividend will be payable as from 1 June 2021.

Timetable

10 May 2021 Ex-dividend quotation
11 May 2021 Record date
12-25 May 2021 (15:00 CEST) Period in which shareholders can indicate their choice
19-25 May 2021 VWAP determination (based on period 19 May up to and including 25 May 2021)
26 May 2020 (COB) Announcement of the exchange ratio
As of 1 June 2021 Delivery of shares or cash payment

Shareholders are requested to indicate their choice within the defined period, through their bank or broker, to ABN AMRO Bank N.V. (“ABN AMRO”). Shareholders registered in the Company’s shareholder register will be separately informed.

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 1 June 2021 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.

Interim dividend 2020

The 2020 interim dividend of €0.80 per ordinary share was paid on 28 August 2020. This interim dividend represented about one third of the total dividend paid over the prior year. The ex-dividend date was 6 August 2020 and the record date was 7 August 2020.

The interim dividend was paid 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. Dividend in cash was paid after deduction of 15% Dutch dividend withholding tax.

As the % of shareholders that wished to receive stock dividend (33.6%) was below the 40% set as maximum for the stock dividend, no scaling down was required.

Exchange Ratio interim dividend 2020

The Exchange Ratio of the interim dividend 2020 in shares amounted to 1 new ordinary DSM share as stock dividend for every 164.1978 existing stock-entitled ordinary shares.

Based on the average weighted price of 17 August up to and including 21 August 2020 (VWAP) of €131.3582, 1/164.1978 share (with VWAP of €131.3582) which was virtually equal the gross dividend in cash of €0.80 per ordinary share.

Both the cash dividend and stock dividend were made payable to shareholders on 28 August 2020.

Final dividend 2019

On 8 May 2020 DSM’s Annual General Meeting of Shareholders passed a resolution to declare a dividend for the 2019 financial year of €2.40 per ordinary share, an increase of €0.10 (4%) on the €2.30 paid for 2018. An interim dividend of €0.77 per ordinary share was paid in August 2019, thus the final dividend is €1.63 per ordinary share. The ex-dividend date on Euronext Amsterdam was   12 May 2020 and the record date was 13 May 2020.

This final dividend of €1.63 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.

Exchange ratio final dividend 2019

The Exchange Ratio of the final dividend for 2019 in shares amounted to 1 new ordinary DSM share as stock dividend for every 69.6007 existing stock-entitled ordinary shares.

Based on the average weighted price of 21 May up to and including 27 May 2020 (VWAP= €113.4492),  1/69.6007 share (with VWAP of €113.4492) represented a value of €1.63, which was virtually equal to the gross dividend in cash of €1.63 per ordinary share.

Both the cash dividend and stock dividend were made payable to shareholders on 3 June 2020.

Interim dividend 2019

The 2019 interim dividend of €0.77 per ordinary share was paid on 26 August 2019. This interim dividend represented about one third of the total dividend paid over the prior year. The ex-dividend date was 5 August 2019 and the record date was 6 August 2019.

The interim dividend was paid 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. Dividend in cash was paid after deduction of 15% Dutch dividend withholding tax. 

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. 

Exchange ratio interim dividend 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) represented a value of €0.77, which was virtually equal to the gross dividend in cash of €0.77 per ordinary share.

Both the cash dividend and stock dividend were made payable to shareholders on 26 August 2019.

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