This means that shareholders will receive 100% of the dividend in cash or 100% in new Edenred common shares, at the shareholder’s option.
Dividend payment timeline
- Record date: May 11, 2018.
- Ex-dividend date: May 14, 2018.
- Period for exercising the dividend reinvestment option: from May 14, 2018 to the close of business on May 25, 2018. Shareholders that do not exercise their reinvestment option by May 25, 2018 included, will receive their total dividend in cash.
- Payment date: June 8, 2018 for both payment methods.
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 May 25, 2018 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 €24.88, 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, 2018 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 8, 2018 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 8,025,977 new shares would be issued, representing around 3.3% of the Company’s share capital and 3.4% of the exercisable voting rights, based on total shares and voting rights outstanding at April 30, 2018.
For additional information, click here to obtain a copy of the detailed guide posted on the Company's website, edenred.com (Investors/Shareholders section).
This option does not constitute an offer or a solicitation to subscribe to or purchase securities in the United States within the meaning of the U.S. Securities Act of 1933, or in any other country where such transaction would be contrary to the applicable laws and regulations. The dividend reinvestment option is not available in certain countries, such as those where such an option would require registration with, or authorization from, the local securities regulator. Shareholders residing outside France should inquire about and comply with any local restrictions.