News
Paris, May 26, 2017 – The Annual Shareholders’ Meeting, held on May 26, 2017 under the chairmanship of Patrick Pouyanné, declared a dividend for 2016 of €2.45 per share, an increase of 0.4% compared to the 2015 dividend. Taking into account the three interim dividends of €0.61 per share paid on October 14, 2016, January 12, 2017, and April 6, 2017, the Shareholders’ Meeting noted that the final 2016 dividend to be paid is €0.62 per share. The 2016 final dividend therefore represents an increase of 1.6% compared to the 2015 final dividend.
In addition, the Annual Shareholders’ Meeting decided that shareholders will be given the option to receive payment of the 2016 final dividend in cash or in new shares of the Company, each choice being exclusive of the other.
The share price of new shares to be issued as payment of the final dividend is set at €44.86. This price is equal to the average opening price on the Euronext Paris for the 20 trading days preceding the Annual Shareholders’ Meeting, reduced by the amount of the final dividend, with a 5% discount, rounded up to the nearest cent. Shares issued as payment of the final dividend will carry immediate dividend rights, and an application will be made to admit the shares for trading on the Euronext Paris.
The ex-dividend date for the final dividend is set for June 5, 2017. Shareholders may select to receive the final dividend payment in new shares during the period from June 5, 2017, to June 14, 2017, both dates inclusive, by instructing their financial brokers.
For Total’s American Depositary Shares (ADS), the ex-dividend date for the final dividend is set for May 31, 2017. ADS holders may select to receive the final dividend payment in new shares during the period from June 5, 2017, to June 9, 2017, both dates inclusive, by instructing their financial brokers.
Shareholders who do not select to receive the final dividend payment in new shares within the specified timeframe will receive the final dividend due to them in cash. The date for the payment in cash is planned for June 22, 2017.
For shareholders who elect to receive the final dividend in shares, the date for the delivery of the shares is planned for June 22, 2017. For holders of Total’s American Depositary Receipts, the delivery of the ADSs is planned for June 29, 2017.
If the amount of the final 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.
Cautionary Note
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 final 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.