Philips announces exchange ratio for 2020 dividend
08 Juni 2021 - 11:00AM
Philips announces exchange ratio for 2020 dividend
June 8, 2021
Amsterdam, the Netherlands – 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). More information is available via this
link.
For further information, please
contact:
Ben ZwirsPhilips Global Press OfficeTel.: +31 6 15213446E-mail:
ben.zwirs@philips.com
Derya GuzelPhilips Investor RelationsTel.: +31 20 59
77055E-mail: derya.guzel@philips.com
About Royal PhilipsRoyal 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 2020 sales of EUR 17.3 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.
Forward-looking statements This release
contains certain forward-looking statements with respect to the
financial condition, results of operations and business of Philips
and certain of the plans and objectives of Philips with respect to
these items. Examples of forward-looking statements include
statements made about the strategy, estimates of sales growth,
future EBITA, future developments in Philips’ organic business and
the completion of acquisitions and divestments. By their nature,
these statements involve risk and uncertainty because they relate
to future events and circumstances and there are many factors that
could cause actual results and developments to differ materially
from those expressed or implied by these statements.
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