Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that the exchange ratio for the dividend in shares for the year 2018 has been determined. The exchange ratio is 1 new common share for every 41.6233 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of June 5, 6 and 7, 2019, of EUR 35.3498 and was calculated in a manner that the gross dividend in shares is approximately equal to the gross dividend in cash.
Shareholders were given the opportunity to make their choice between cash and shares between May 15, 2019 and June 7, 2019. If no choice was made during this election period, the dividend will be paid in cash. Both the dividend in cash and the dividend in shares will be made payable to shareholders from June 13, 2019.
For 41.5% of the shares, an election was made for a share dividend, resulting in the issuance of 9,079,538 new common shares. Upon payment of the dividend, the total issued share capital will amount to EUR 187,055,015.40, representing 935,275,077 common shares. After deduction of treasury shares, the total number of outstanding shares will be 909,194,188 shares (2018: 931,657,897). Philips expects to cancel approximately 30,000,000 treasury shares in June 2019.