The 2001 results for Elf Gabon, which reported net income of $124.5 million, were approved at the General Meeting held today in Libreville.
The dividend for the year, net of withholding tax, was set at $27.5 per share.
The Board of Directors of Elf Gabon met following the General Meeting and established the dividend payment terms :
- The $27.5 per share will be paid as of June 25, 2002, in euros based on the European Central Bank US dollar exchange rate on June 11, 2002 , or against its rate in CFA Francs ( $ 1 = € 1.0619 ) that is to say a payment of 29.20 euros per share.
- Payment will be made at the following banks :
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- In Gabon: |
Union Gabonaise de Banque (UGB) |
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- In France : |
Crédit Lyonnais, BNP PARIBAS, Crédit Commercial de France, Crédit Industriel et Commercial, Crédit du Nord, Société Générale. |
Conforming with the legislation in Gabon and the bilateral conventions between France and Gabon, the dividend will qualify for a limited tax credit of $0.21 per share in France, corresponding to the amount withheld at the source in Gabon. |
