01.18.19
AkzoNobel announced details of the capital repayment and share consolidation approved by shareholders on Nov. 13, 2018.
The record date for shareholders holding common shares will be at the close of trading hours for Euronext Amsterdam on Jan. 23, 2019. A share consolidation ratio of 9:8 will be effective on Jan. 24, 2019, and shareholders will receive a capital repayment of €8.78 per common share on Jan. 25, 2019.
This €2 billion capital repayment is part of a total €6.5 billion being distributed to shareholders following the sale of the Specialty Chemicals business. A special cash dividend of €1 billion will be paid in February 2019 and a share buyback program of €2.5 billion will commence soon, in addition to €1 billion advance proceeds distributed by a special cash dividend paid in December 2017.
The record date for shareholders holding common shares will be at the close of trading hours for Euronext Amsterdam on Jan. 23, 2019. A share consolidation ratio of 9:8 will be effective on Jan. 24, 2019, and shareholders will receive a capital repayment of €8.78 per common share on Jan. 25, 2019.
This €2 billion capital repayment is part of a total €6.5 billion being distributed to shareholders following the sale of the Specialty Chemicals business. A special cash dividend of €1 billion will be paid in February 2019 and a share buyback program of €2.5 billion will commence soon, in addition to €1 billion advance proceeds distributed by a special cash dividend paid in December 2017.