PARIS--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Total (Paris:FP) (LSE:TTA) (NYSE:TOT) met on March 15, 2017 and declared, in accordance with the Board decision of October 27, 2016, a 2016 third interim dividend of €0.61 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 24, 2016, the option for shareholders, including holders of its American Depositary Shares, to receive the 2016 third interim dividend in cash or in new shares of the Company.
The share price for the new shares which will be issued as payment of the 2016 third interim dividend is set by the Board of Directors at €44.64. This price is equal to the average opening price on the Euronext Paris for the twenty trading days preceding March 15, 2017, the date where the Board decided on the payment of the third interim dividend, reduced by the amount of the interim dividend, with a 5% discount, rounded up to the nearest cent. Shares issued in this way will carry immediate dividend rights and will accordingly give the right to any distribution decided from the date they are issued. An application will be made to admit the new shares for trading on the Euronext Paris market.
The ex-dividend date for the 2016 third interim dividend is set for March 20, 2017. The period for exercising the option will begin on March 20, 2017, and will end on March 29, 2017, both dates inclusive. The option may be exercised on request with authorized financial brokers.
For holders of ADS, the ex-dividend date for the 2016 third interim dividend is set for March 15, 2017. The period for exercising the option will begin on March 20, 2017, and will end on March 24, 2017, both dates inclusive. The option may be exercised on request with authorized financial brokers.
Shareholders who do not exercise this option within the specified time period will receive the whole of the interim dividend due to them in cash. The date for the payment in cash is set for April 6, 2017.
For shareholders who elect to receive the 2016 third interim dividend in shares, the date for the delivery of shares is set for April 6, 2017. For Total’s American Depositary Shares, the delivery of ADSs is set for April 13, 2017.
If the amount of the 2016 third interim dividend for which the option is exercised does not correspond to a whole number of shares, the shareholders may opt to receive either the number of shares immediately above, having paid a cash adjustment on the day they exercise their option, or the number of shares immediately below, plus a balancing cash adjustment.
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 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
This news release is provided for information purposes only and does not constitute an offer to purchase securities. This news release and any other document relating to payment of dividends in shares may only be published outside of France in conformity with applicable local laws and regulations and shall not constitute an offer for securities in jurisdictions where such an offer would violate applicable local law. The option to receive the 2016 third interim dividend in shares is not open to shareholders residing in any jurisdiction where such option would give rise to a registration requirement or require the granting of any authorization from local securities regulators; shareholders residing outside of France are required to inform themselves of any restrictions which may apply under their local law and comply with such restrictions. Shareholders must inform themselves of the conditions and consequences of the exercise of such option, which may be applicable under local law. In making their decision to receive the dividend in shares, shareholders must consider the risks associated with an investment in shares.