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. Whilst keeping this policy, in June 2018 DSM proposed an increase of about 25% in the dividend for 2018 compared to the previous year.

Dividend per ordinary share over financial year (€)

Final dividend 2018

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 amounts 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.

Exchange Ratio Final dividend 2018

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.

Interim Dividend 2019

The 2019 interim dividend of €0.77 per ordinary share will be payable as of 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. If more than 40% of the total dividend is requested by the shareholders to be paid out in shares, those shareholders who have chosen to receive their dividend in shares will receive their stock dividend on a pro rata basis, the remainder being paid out in cash. Dividend in cash will be paid after deduction of 15% Dutch dividend withholding tax. The ex-dividend date is 5 August 2019.The record date is 6 August 2019.

Exchange Ratio Interim dividend 2019

Shareholders have from 7 August until 20 August 2019 (15:00 CEST) to indicate to ABN AMRO Bank N.V. via their bank or broker, if they wish to receive their dividend in the form of ordinary shares, otherwise it will be distributed in cash. 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 conversion rate between the cash dividend and the stock dividend will be determined on 21 August 2019 after the close of trading on Euronext Amsterdam. This exchange ratio will be based on the volume weighted average price (VWAP) of all ordinary shares in DSM traded at Euronext Amsterdam over a period of five trading days from 14 August 2019 up to and including 20 August 2019 (14-16, 19 and 20 August 2019). The value of the stock dividend will be virtually equal to the value of the cash dividend. Stock dividend rights will not be traded on Euronext Amsterdam.

Interim Dividend 2019 - timetable

5 Aug 2019 Ex-dividend quotation.
6 Aug 2019 Record date.
7 Aug 2019 -
20 Aug 2019
Period in which shareholders can indicate their choice.
Election deadline for securities (shares) is 20 August 2019 at 15:00 CEST.
Thereafter only the cash option is available.
21 Aug 2019 VWAP determination (based on period 14 August 2019 up to and including 20 August 2019).
21 Aug 2019 (COB) Announcement of the exchange ratio.
As of 26 Aug 2019 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 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.

Members are requested to instruct their election electronically through the Euroclear Nederland system of by means of a Swift MT565.

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