TNT has declared an interim dividend of € 0.28 per ordinary share, that is payable, at the shareholder’s election, either wholly in ordinary shares or wholly in cash.
Shareholders who elected an interim dividend in shares will receive one new TNT N.V. ordinary share for every 72 dividend rights.
This represents a value of € 0.2892 per dividend right which is 3.30% above the value of the cash dividend. The conversion rate has been based on the volume-weighted average share price of € 20.8256 for all TNT N.V. shares traded on Euronext Amsterdam over a three trading day period from 13 up to and including 17 August 2010.
Over 47% of outstanding capital has elected for dividend to be paid in shares, which results in approximately 2,450,000 new ordinary shares being issued as stock dividend.
The stock dividend will be paid out of additional paid in capital as part of the distributable reserves, free of withholding tax in the Netherlands.
The dividend will be payable as from 20 August 2010.
Source: TNT
Tags: Europe, Netherlands, Shares, TNT
