IBERDROLA ONCE AGAIN OFFERS ITS SHAREHOLDERS THE OPPORTUNITY TO OBTAIN FREE SHARES
- As part of the ‘Iberdrola Dividendo Flexible’ scheme and coinciding with the traditional final dividend payment for 2011
- For shareholders preferring a cash payment IBERDROLA shall also offer an acquisition price of at least €0.143 per share to purchase free allocation rights
- The company will carry out a capital increase with a maximum benchmark value of €901 million to implement this remuneration system
The IBERDROLA Board of Directors has today approved a new edition of its Scrip Dividend: Iberdrola Dividendo Flexible scheme. This programme offers shareholders the opportunity to obtain new shares at no extra cost and with no withholding tax and coincides with the traditional final dividend payment for 2011.
On 30 December, the company will announce the number of free allocation rights necessary to receive a new share in IBERDROLA. The number will be calculated based on the number of outstanding shares and the weighted average price of the group’s shares between 22 and 29 December. According to the schedule, trading in the new shares could begin on 25 January 2012.
However, shareholders can also choose a cash payment and IBERDROLA shall offer an acquisition price of at least €0.143 per share to purchase the free allocation rights. Shareholders choosing this option, subject to tax withholding, should make their preference known between 3 and 13 January 2012. In this case, payment of the free allocation rights will take place on 20 January 2012.
A third option available to shareholders is to sell their rights on the market. Shareholders choosing this option do not have to pay any withholding tax, but they are also not entitled to the Guaranteed Fixed Price.
The company’s Board of Directors has approved a capital increase for a maximum benchmark value of €901 million to implement this scrip dividend scheme.
The schedule for this new edition of the programme is as follows:
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