TNT declares second interim dividend
TNT has declared a second interim dividend of EUR 0.29 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 ordinary share for every 62 dividend rights.
This represents a value of EUR 0.2981 per dividend right which is 2.81% above the value of the cash dividend.
The conversion rate has been based on the volume-weighted average share price of EUR 18.4847 for all TNT shares traded on Euronext Amsterdam over a three trading day period from 4 up to and including 8 March 2011.
60% of outstanding capital has elected for dividend to be paid in shares, which results in approximately 3,626,000 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 11 March.
