Philips announces an exchange ratio for the 2021 dividend
June 7, 2022
Amsterdam, Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that the stock dividend exchange ratio for the year 2021 has been determined. The exchange ratio is 1 new ordinary share for 27.3184 existing ordinary shares. This ratio was based on the volume-weighted average price on Euronext Amsterdam on June 1, 2 and 3, 2022 of EUR 23.1906 and was calculated so that the gross stock dividend was approximately equal to the gross dividend. cash.
Shareholders had the opportunity to choose between cash and shares between May 16, 2022 and June 3, 2022. If no choice has been made during this election period, the dividend will be paid in cash. Both the cash dividend and the stock dividend will be paid to shareholders from June 8, 2022.
For 44.5% of the shares currently outstanding, an election was made for a stock dividend, resulting in the issuance of 14,174,568 new ordinary shares. Upon distribution of the distribution shares, the total issued share capital will amount to EUR 179,614,707.40, representing 898,073,537 ordinary shares.
As communicated earlier, Philips intends to deliver 19,571,218 shares through early settlement of forward contracts through 2022. These forward contracts were entered into under the $1.5 billion share buyback program euros for capital reduction purposes, as announced on July 26, 2021. Philips plans to cancel a total of 28,329,673 shares (including 8,758,455 treasury shares already held) before the end of the year, which would result in the issuance of 869,743,864 ordinary shares at the end of 2022 (2021: 883,898,969). More information is available via this link.
For more information, please contact:
Philips Global Press Office
Such. : +31 6 15213446
E-mail: [email protected]
Philips Investor Relations
Such. : +31 20 59 77055
E-mail: [email protected]
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving the health and well-being of people and driving better outcomes in the across the health continuum – from healthy living and prevention to diagnosis, treatment and home care. Philips relies on cutting-edge technology and in-depth clinical and consumer insights to deliver integrated solutions. Based in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as consumer health and care. residence. Philips generated sales of €17.2 billion in 2021 and employs approximately 79,000 employees with sales and service in over 100 countries. Information about Philips can be found at www.philips.com/newscenter.
This press release contains certain forward-looking statements regarding the financial condition, results of operations and businesses of Philips and certain of Philips’ plans and objectives with respect to these items. Examples of forward-looking statements include statements made about strategy, sales growth estimates, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestitures. By their nature, these statements involve risks and uncertainties because they relate to future events and circumstances and many factors could cause actual results and developments to differ materially from those expressed or implied by these statements.