Press release
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june 09, 2021 - Philips
Philips announces exchange ratio for 2020 dividend
Amsterdam, #thenetherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that the exchange ratio for the dividend in shares for the year 2020 has been determined. The exchange ratio is 1 new common share for every 53.9278 existing common shares. This ratio was based on the volume weighted average price on Euronext #amsterdam of June 2, 3 and 4, 2021, of EUR 45.8086 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 12, 2021 and June 4, 2021. 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 9, 2021.
For 37.7% of the shares, an election was made for a share dividend, resulting in the issuance of 6,345,968 new common shares. Upon payment of the dividend, the total issued share capital will amount to EUR 183,479,793.80, representing 917,398,969 common shares. In the remainder of 2021, #philips expects to have 20,476,023 shares delivered through the settlement of forward contracts entered into in the course of 2020 as part of the EUR 1.5 billion share repurchase program for capital reduction purposes, as announced on January 29, 2019. #philips expects to cancel these shares before the end of 2021, and thereby the issued common shares outstanding at 2021 year-end is expected to amount to 896,922,946 shares (2020: 911,053,001).
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