EssilorLuxottica Completes Dividend Payment in Shares
EssilorLuxottica reported the outcome of its annual general meeting decision to pay dividends in shares. Approximately 1.08% of the company's share capital was issued as dividends.
Charenton-le-Pont, France – EssilorLuxottica has completed the process of paying its 2021 dividend in the form of newly issued shares. The company's Annual General Meeting previously granted shareholders the option to receive their dividend payment as shares, rather than cash.
The subscription price for the new shares was set at €135.60 per share. This price was determined as 90% of the average opening prices on Euronext Paris over the twenty trading days preceding the Annual General Meeting, minus the final dividend for the 2021 financial year, rounded up to the nearest cent. Shareholders had until June 15, 2022, to elect this payment method.
As a result of the dividend payment in shares, EssilorLuxottica will issue 4,789,194 new shares. This issuance represents approximately 1.08% of the company's total share capital as of May 31, 2022. The new ordinary shares carry the same rights as existing shares and are entitled to all distributions made from their issuance date forward.
The settlement and delivery of these new shares, along with their admission to trading on Euronext Paris, are scheduled for Tuesday, June 21, 2022. The decision regarding the dividend payment in shares was finalized on June 17, 2022.