Shareholders who elected an interim dividend in shares will receive one new PostNL N.V. ordinary share for every 17 dividend rights. This represents a value of €0.2238 per dividend right which is 4.60% above the value of the cash dividend. The conversion rate has been based on the volume-weighted average share price of €3.8052 for all PostNL N.V. shares traded on NYSE Euronext Amsterdam over a three trading day period from 23 August up to and including 25 August 2011.
Over 55% of outstanding capital has elected for dividend to be paid in shares, which results in approximately 12,336,000 new ordinary shares being issued as stock dividend.
The dividend paid in shares will be sourced from the additional paid-in capital that is recognised for Dutch dividend withholding tax purposes and consequently free from such withholding tax. The cash dividend will be paid out of the remaining additional paid-in capital (after deduction of 15% Dutch dividend withholding tax).
Dividend payment in cash or delivery of shares, as the case may be, will take place as from 30 August 2011.
PostNL is the inventive partner in the world of sending and receiving. We have been so for 200 years already. We are primarily active in the fields of mail, parcels and e-commerce, but we also offer services in the areas of data and document management, direct marketing and fulfilment. Outside the Netherlands, we are active in Germany, the United Kingdom, Italy, Belgium and Luxemburg. PostNL employs a total of more than 59,000 people. In 2013 our revenues reached € 4.3 billion.
We like to stay ahead of things. We are the most modern postal company in the world. We are proud of that. As the first listed postal company, we are an example to the rest of the world in automatic letter sorting. And our innovative parcels network is completely adapted to the wishes of web retailers.