Philips 2013 Annual Report Download - page 234

16 Investor Relations 16.1 - 16.1
234 Annual Report 2013
Restructuring and acquisition-related charges and the
result of the sale of the 30% stake in investment in
associate TP Vision are also excluded.
Proposed distribution
A proposal will be submitted to the 2014 Annual
General Meeting of Shareholders to declare a dividend
of EUR 0.80 per common share (up to EUR 740 million),
in cash or in shares at the option of the shareholder,
against the net income for 2013.
Shareholders will be given the opportunity to make
their choice between cash and shares between May 8,
2014, and May 30, 2014. If no choice is made during this
election period, the dividend will be paid in shares. On
May 30, 2014 after close of trading, the number of share
dividend rights entitled to one new common share will
be determined based on the volume weighted average
price of all traded common shares of Koninklijke Philips
N.V. at NYSE Euronext Amsterdam on 28, 29 and 30
May, 2014. The Company will calculate the number of
share dividend rights entitled to one new common
share, such that the gross dividend in shares will be
approximately equal to the gross dividend in cash. On
June 3, 2014 the ratio and the number of shares to be
issued will be announced. Payment of the dividend and
delivery of new common shares, with settlement of
fractions in cash, if required, will take place from June 4,
2014. The distribution of dividend in cash to holders of
New York registry shares will be made in USD at the
USD/EUR rate fixed by the European Central Bank on
June 2, 2014.
Dividend in cash is in principle subject to 15% Dutch
dividend withholding tax, which will be deducted from
the dividend in cash paid to the shareholders. Dividend
in shares paid out of net income is subject to 15%
dividend withholding tax, but only in respect of the par
value of the shares (EUR 0.20 per share). Shareholders
are advised to consult their own tax advisor on the
applicable situation with respect to taxes on the
dividend received.
In 2013, a dividend of EUR 0.75 per common share was
paid in cash or shares, at the option of the shareholder.
For 59.8% of the shares an election was made for a
share dividend resulting the issuance of 18,491,337 new
common shares, leading to a 2.1% percent dilution. EUR
271,991,204 was paid in cash. For additional
information, see section 4.4, Proposed distribution to
shareholders, of this Annual Report.
ex-dividend
date record date payment date
Amsterdam
shares May 5, 2014 May 7, 2014 June 4, 2014
New York
shares May 5, 2014 May 7, 2014 June 4, 2014
Dividend and dividend yield per common share
■-dividend per share in euros----yield in %1)
1.00
0.80
0.60
0.40
0.20
0
1.6
0.36
2004
2.1
0.40
2005
1.7
0.44
2006
2.1
0.60
2007
2.4
0.70
2008
5.1
0.70
2009
3.4
0.70
2010
3.3
0.75
2011
4.6
0.75
2012
3.8
0.75
2013
3.0
0.80
20142)
1) Dividend yield % is as of December 31 of previous year
2) Subject to approval by the 2014 Annual General Meeting of Shareholders
Information for investors in New York Registry
shares program
Dividends and distributions per common share
The following table sets forth in euros the gross
dividends on the common shares in the fiscal years
indicated (from prior-year profit distribution) and such
amounts as converted into US dollars and paid to
holders of shares of the New York registry:
2009 2010 2011 2012 2013
in EUR 0.70 0.70 0.75 0.75 0.75
in USD 0.94 0.93 1.11 0.94 0.98
Exchange rates USD : EUR
The following two tables set forth, for the periods and
dates indicated, certain information concerning the
exchange rate for US dollars into euros based on the
Noon Buying Rate in New York City for cable transfers in
foreign currencies as certified for customs purposes by
the Federal Reserve Bank of New York (the “Noon
Buying Rate”). The Noon Buying Rate on February 14,
2014 was EUR 0.7305 per USD 1.