Posted by OilVoice Press - OilVoice
Paris, April 5, 2018 - The Board of Directors of Total S.A. met on March 14, 2018, and declared a 2017 third interim dividend of €0.62 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders' Meeting of May 26, 2017, the option for shareholders to receive the 2017 third interim dividend in cash or in new shares of the Company.
The period for exercising the option ran from March 19, 2018 to March 28, 2018. At the end of the option period, 44% of rights were exercised in favour of receiving the payment for the 2017 third interim dividend in shares.
15,559,601 new shares will be issued, representing 0.59% of the Company's share capital on the basis of the share capital as of March 31, 2018. The share price for the new shares to be issued as payment of the 2017 third interim dividend was set at €45.70 on March 14, 2018. The price is equal to the average opening price on Euronext Paris for the twenty trading days preceding the Board of Directors of March 14, 2018, reduced by the amount of the 2017 third interim dividend, without any discount.
The settlement and delivery of the new shares as well as their admission to trading on Euronext Paris will occur on April 9, 2018. The shares will carry immediate dividend rights and will be fully assimilated with existing shares already listed.
In line with the shareholder return policy announced on February 8, 2018, in order to avoid any dilution linked to the issuance of new shares, the Group will buy back during the quarter the newly issued shares with the intention to cancel them.
The remaining cash dividend to be paid to shareholders who did not elect to receive the 2017 third interim dividend in shares amounts to 910 million euros and the date for the payment in cash is set for April 9, 2018.
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