PARIS--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Total (Paris:FP) (LSE:TTA) (NYSE:TOT) met on March 15, 2017, and declared 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 to receive the 2016 third interim dividend in cash or in new shares of the Company.
The period for exercising the option ran from March 20, 2017 to March 29, 2017. At the end of the option period, 60% of rights were exercised in favor of receiving the payment for the 2016 third interim dividend in shares.
19,800,590 new shares will be issued, representing 0.8% of the Company’s share capital on the basis of the share capital as of March 22, 2017. The share price for the new shares to be issued as payment of the 2016 third interim dividend was set at €44.64 on March 15, 2017. The price is equal to the average opening price on the Euronext Paris for the preceding twenty trading days, reduced by the amount of the interim dividend, with a 5% discount.
The settlement and delivery of the new shares as well as their admission to trading on Euronext Paris will occur on April 6, 2017. The shares will carry immediate dividend rights and will be fully assimilated with existing shares already listed.
The remaining 2016 third interim cash dividend to be paid to shareholders who did not elect to receive this interim dividend in shares amounts to 601 million euros and the date for the payment in cash is set for April 6, 2017.
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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