Amsterdam, the Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced that the exchange ratio for the dividend in shares for the year 2011 has been determined. The exchange ratio is 1 new common share for every 18.7140 existing common shares. This ratio was based on the volume weighted average price on NYSE Euronext Amsterdam of May 23, 24 and 25, 2012 of EUR 14.4213 and was calculated in a manner that dividend in shares is approximately 3% higher than the gross dividend in cash.
Both the dividend in cash and the dividend in shares will be made payable to shareholders from May 30, 2012. Dividend in shares is subject to 15% dividend withholding tax, but only in respect of the par value of the shares (EUR 0.20 per share). The dividend withholding tax per new share is EUR 0.035294118. This withholding tax in case of dividend in shares will be borne by Philips.
For approximately 62.4% of the shares an election was made for a share dividend resulting in the issue of 30,522,107 new common shares, leading to a 3.4% percent dilution. Per May 30, 2012 the issued share capital of Philips amounts to EUR 207,899,510.40 and is represented by 1,039,497,552 ordinary shares.