PARIS--(BUSINESS WIRE)--
Total Proposes an Increased Fourth Quarter 2016 Dividend of 0.62 Euros Per Share and a 2016 Annual Dividend of 2.45 Euros Per Share
TOTAL (Paris:FP) (LSE:TTA) (NYSE:TOT):
The Board of Directors met on February 8, 2017 and decided to propose to the Combined Shareholders’ Meeting, which will be held on May 26, 2017, an annual dividend of 2.45 €/share for 2016, an increase compared to 2015. Given the three previous 2016 interim quarterly dividends of 0.61 €/share, a fourth quarter 2016 dividend of 0.62 €/share is therefore proposed, representing an increase of 1.6% compared to the previous three interim dividends.
“The Board of Directors’ decision to propose a dividend increase despite the volatility of hydrocarbon prices demonstrates the Board’s confidence in the strength of the Group’s results and balance sheet as well as its prospects for cash flow growth,” said Chairman and CEO Patrick Pouyanné.
The Board of Directors also decided to propose to the Combined Shareholders’ Meeting the alternative for shareholders to receive the fourth quarter 2016 dividend in cash or in new shares of the company with a discount that will be set between 0% and 10%.
Subject to approval at the Combined Shareholders’ Meeting:
- the ex-dividend date for the fourth quarter dividend will be June 5, 2017;
- the payment of the dividend in cash or the delivery of shares issued in lieu of the cash dividend is set for June 22, 2017.
American Depositary Receipts (“ADRs”) will receive the final quarterly installment of the 2016 dividend in dollars based on the then-prevailing exchange rate according to the following timetable:
|
ADR ex-dividend date |
May 31, 2017 |
|
|
ADR record date |
June 2, 2017 |
|
|
ADR distribution date for cash or shares |
June 29, 2017 |
|
| issued in lieu of the cash dividend |
Registered ADR holders may also contact JP Morgan Chase Bank for additional information. Non-registered ADR holders should contact their broker, financial intermediary, bank or financial institution for additional information.
TOTAL S.A.
Mike SANGSTER
Nicolas FUMEX
Kim HOUSEGO
Romain RICHEMONT
Tel. : + 44 (0)207 719 7962
Fax : + 44 (0)207 719 7959
or
Robert HAMMOND (U.S.)
Tel. : +1 713-483-5070
Fax : +1 713-483-5629
* * * * *
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, and the world’s second-ranked solar energy operator with SunPower. Our 96,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. total.com