On 16 April 2019, PostNL announced to pay a final dividend over 2018 of €0.17 per ordinary share in cash or shares at the option of the shareholders.
Shareholders that elected dividend in shares will receive one PostNL ordinary share for every 12.2552 dividend rights. This represents a value of €0.17 per dividend right. The conversion rate has been determined on the basis of the volume-weighted average price of €2.0834 of all traded PostNL ordinary shares at Euronext Amsterdam on 6, 7 and 8 May 2019.
Shareholders representing almost 40% of the outstanding share capital have elected dividend to be paid in shares, resulting in the issue of approximately 15,105,000 new ordinary shares.
The shares to be issued as stock dividend are paid out of additional paid-in capital as part of the distributable reserves, free of withholding tax in the Netherlands.