Paris, December 12, 2017 – The Board of Directors of Total met on December 12, 2017 and declared a 2017 second interim dividend of €0.62 per share, in accordance with the Board’s decision of July 26, 2017, unchanged compared to the 2017 first interim dividend and representing an increase of 1.6% compared to the 2016 second interim dividend. The Board of Directors also decided to offer, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 26, 2017, the option for shareholders, including holders of its American Depositary Shares, to receive the 2017 second interim dividend in cash or in new shares of the Company.
Given current oil prices above 60 $/b and the performance of the Group in terms of cash-flow generation in such environment, the Board of Directors has decided to remove the discount offered on the share price for the new shares to be issued as payment of the 2017 second interim dividend. As a result, the share price for the new shares to be issued is set at €46.55, equal to the average opening price on Euronext Paris for the twenty trading days preceding the Board of Directors on December 12, 2017, reduced by the amount of the interim dividend, rounded up to the nearest cent. Shares issued as payment of the 2017 second interim dividend will carry immediate dividend rights. An application will be made to admit the new shares for trading on the Euronext Paris market.
The ex-dividend date for the 2017 second interim dividend is set for December 19, 2017. Shareholders may select to receive the 2017 second interim dividend payment in new shares during the period from December 19, 2017, to January 3, 2018, both dates inclusive, by instructing their financial advisors.
For Total’s American Depositary Shares (ADS), the ex-dividend date for the 2017 second interim dividend is set for December 15, 2017. ADS holders may select to receive the 2017 second interim dividend payment in new shares during the period from December 19, 2017, to December 28, 2017, both dates inclusive, by instructing their financial brokers.
Shareholders who do not select to receive the 2017 second interim dividend payment in new shares within the specified timeframe will receive the 2017 second interim dividend due to them in cash. The date for the payment in cash is planned for January 11, 2018.
For shareholders who elect to receive the 2017 second interim dividend in shares, the date for the delivery of the shares is planned for January 11, 2018. For holders of Total’s American Depositary Receipts, the delivery of the ADSs is planned for January 19, 2018.
If the amount of the 2017 second interim dividend for which the option is exercised does not correspond to a whole number of shares, the shareholders may opt to receive either the number of shares immediately above, having paid a cash adjustment on the day they exercise their option, or the number of shares immediately below, plus a balancing cash adjustment.
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This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total” and “Total Group” are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.