IBERDROLA OFFERS SHAREHOLDERS FREE SHARES OR €0 156 PER SHARE IN CASH
Part of the ‘Iberdrola Dividendo Flexible (Scrip dividend) programme’
- Shareholders need 38 allocation rights for each company share, without charges or commissions
- Shareholders of the former renewables subsidiary are also eligible for the cash dividend (€0.03) on 13 July and the scrip dividend
IBERDROLA, under the framework of its Iberdrola Dividendo Flexible (Scrip dividend) programme, offering shareholders the opportunity to receive free shares of the Group, has announced today the number of allocation rights necessary to receive a share.
Shareholders opting for the traditional interim dividend charged to 2010 profit entailing free Group shares can receive one new IBERDROLA share for every 38 allocation rights they hold.
The Iberdrola Dividendo Flexible offers them the possibility of obtaining new shares without any charges or commissions. To cover this, the company will carry out an equity raise of up to €935 million.
Shareholders of the former renewables subsidiary are also eligible to collect the IBERDROLA dividend now that the merger between the two companies was completed on Friday.
Meanwhile, shareholders opting to receive the cash dividend may sell their rights to the company or on the market. If they choose to sell them to the company, IBERDROLA guarantees a payment of €0.156 per share, subject to a 19% tax withholding. Shareholders preferring to sell their rights on the market do not have to pay any withholding tax, but they also do not have a guaranteed price.
Shareholders will have from 13 to 27 July to decide whether they want to receive free shares –this is the default option- or the equivalent amount in cash. If they choose to sell their rights to IBERDROLA, they have until 22 July to notify this.
Payment is tentatively scheduled for 1 August, and the new shares will start trading on 3 August.
In addition to Iberdrola Dividendo Flexible, the company will pay an ordinary gross €0.03 per share cash dividend on 13 July. Shareholders of the former renewables subsidiary are also eligible for this dividend.
Esta comunicación no constituye una oferta de venta en los Estados Unidos de América ni en ninguna otra jurisdicción. Los valores aquí referidos no podrán ser vendidos en los Estados Unidos de América, salvo si se efectúa a través de una declaración de notificación efectiva de las previstas en el Securities Act de 1933, o al amparo de una exención válida del deber de notificación.