Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX:PHIA) today announced that the exchange ratio for the dividend in shares for the year 2013 has been determined. The exchange ratio is 1 new common share for every 29.0185 existing common shares. This ratio was based on the volume weighted average price on NYSE Euronext Amsterdam of May 28, 29 and 30, 2014, of EUR 23.1848 and was calculated in a manner that the gross dividend in shares is approximately equal to the gross dividend in cash.
Both the dividend in cash and the dividend in shares will be made payable to shareholders from June 4, 2014. 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 0.03, which was taken into account in the calculation of the exchange ratio.
For 60.0% of the shares an election was made for a share dividend resulting in the issue of 18,811,534 new common shares, leading to a 2.1% dilution. Following the payment of the dividend on June 4, 2014, the total issued share capital of Philips amounts to EUR 191,331,465 and is represented by 956,657,323 ordinary shares.