This means that shareholders will receive:
• 50% of their dividend, or €0.31, in cash; and
• 50% of their dividend in cash or new Edenred common shares, at the shareholder’s option
Dividend payment timeline
• Record date:
- May 11, 2017 for the payment of the dividend subject to option.
- May 15, 2017 for the payment of the cash dividend.
• Ex-dividend date: May 12, 2017
• Period for exercising the dividend reinvestment option: from May 12 to the close of business on June 2, 2017. Shareholders may opt to reinvest only during this period. Shareholders that do not exercise their reinvestment option by June 2, 2016 will receive their total dividend in cash.
• Dividend payment date: June 15, 2017, regardless of whether the dividend is reinvested or not.
To reinvest their dividend, shareholders must so inform the bank or broker that manages their shares, or, if their shares are registered in the Company's share register, the custodian bank . Shareholders who have not opted to reinvest by June 2, 2017 will receive the entire dividend in cash.
Certain legal restrictions may apply to the reinvestment option for non-resident shareholders. Non-residents of France should enquire about the laws and rules applicable in their country of residence.
The shares created on reinvestment of the dividend will be issued at a price of €20.18, corresponding to 90% of the average of the opening prices quoted for Edenred shares over the twenty trading days on the Euronext Paris preceding the Annual Shareholders Meeting, less the amount of the dividend and rounded up to the nearest euro cent.
The new shares will carry dividend rights from January 1, 2017 and rank pari passu with existing shares of Edenred common stock. They will begin trading in compartment A of the Euronext Paris stock exchange (ISIN: FR0010908533) on June 15, 2017 on the same line as existing shares.
If the amount of the reinvested dividend does not correspond to a whole number of shares, the shareholder may receive the next lower number of shares and the balance in cash.
If all of the eligible dividend is reinvested, a maximum of 3,565,985 new shares would be issued, representing around 1.52% of the Company’s share capital and 1.50% of the exercisable voting rights, based on total shares and voting rights outstanding at April 30, 2017.