Amsterdam, the Netherlands – Royal Philips has today announced that the exchange ratio for the dividend for the year 2022 is 1 new common share for every 22.3906 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 11, 12 and 15, 2023, of EUR 19.0020 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 39,334,938 new common shares.
Distribution of the dividend with delivery of new common shares and settlement of any fractions in cash, will take place from May 18, 2023. Upon distribution, the total issued share capital will amount to EUR 185,730,004, representing 928,650,020 common shares.
Before the end of the year, Philips expects to cancel a total of 15,134,054 shares. The shares to be cancelled include treasury shares already held and shares yet to be acquired in the course of 2023 through the settlement of forward contracts entered into as part of the EUR 1.5 billion share repurchase program for capital reduction purposes, as announced on July 26, 2021. More information is available via this link.