The FINANCIAL — The Board of Directors of Total met on March 14, 2018 and declared a 2017 third interim dividend of €0.62 per share, in accordance with the Board’s decision of October 26, 2017.
This is unchanged compared to the 2017 first and second interim dividends and represents an increase of 1.6% compared to the 2016 third interim dividend. The Board of Directors also decided to offer, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 26, 2017, the option for shareholders, including holders of its American Depositary Shares (ADS), to receive the 2017 third interim dividend in cash or in new shares of the Company.
The share price for the new shares to be issued as payment of the 2017 third interim dividend is set by the Board of Directors at €45.70. This price is equal to the average opening price on Euronext Paris for the twenty trading days preceding the Board of Directors on March 14, 2018, reduced by the amount of the interim dividend, without any discount, rounded up to the nearest cent. Shares issued as payment of the 2017 third interim dividend will carry immediate dividend rights. An application will be made to admit the new shares for trading on the Euronext Paris market, according to Total.
The ex-dividend date for the 2017 third interim dividend is set for March 19, 2018. Shareholders may select to receive the 2017 third interim dividend payment in new shares during the period from March 19, 2018, to March 28, 2018, both dates inclusive, by instructing their financial advisors.
For Total’s ADS, the ex-dividend date for the 2017 third interim dividend is set for March 15, 2018. ADS holders may select to receive the 2017 third interim dividend payment in new shares during the period from March 19, 2018, to March 23, 2018, both dates inclusive, by instructing their financial brokers.
Shareholders who do not select to receive the 2017 third interim dividend payment in new shares within the specified timeframe will receive the 2017 third interim dividend due to them in cash. The date for the payment in cash is planned for April 9, 2018.
For shareholders who elect to receive the 2017 third interim dividend in shares, the date for the delivery of the shares is planned for April 9, 2018. For holders of Total’s American Depositary Shares, the delivery of the ADSs is planned for April 16, 2018.
If the amount of the 2017 third interim dividend for which the option is exercised does not correspond to a whole number of shares, the shareholders may opt to receive either the number of shares immediately above, having paid a cash adjustment on the day they exercise their option, or the number of shares immediately below, plus a balancing cash adjustment.
Indicative interim ex-dividend dates for 2019 dividend
Subject to decisions by the Board of Directors and shareholders at the 2020 Annual Meeting to approve the 2019 financial statements and the final dividend, the ex-dividend dates of the interim dividends and the final dividend for 2019 will be:
September 27, 2019,
January 6, 2020,
March 30, 2020,
June 29, 2020.