Philips announces exchange ratio for 2019 dividend

The company to issue 1.8 crore new common shares

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Philips
Photo - Philips

Philips announced that the exchange ratio for the dividend for the year 2019 had been determined. The exchange ratio is one new common share for every 49.2971 existing common shares. This ratio was based on the volume-weighted average price on Euronext Amsterdam of 30 June, and 1 July and 2, 2020, of EUR 41.8725 and was calculated in a manner that the gross dividend in shares would be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 18,080,198 new common shares, according to the press statement.

The dividend will be made payable to shareholders from 7 July 2020. Upon payment of the dividend, the total issued share capital will amount to EUR 182,210,600.20, representing 911,053,001 common shares. After the deduction of treasury shares, the total number of outstanding shares will be 909,395,209 shares (2019: 909,194,188).

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