The Board of Directors of Total met on March 15, 2017 and declared, in accordance with the Board decision of October 27, 2016, a 2016 third interim dividend of €0.61 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 24, 2016, the option for shareholders, including holders of its American Depositary Shares, to receive the 2016 third interim dividend in cash or in new shares of the Company.
The share price for the new shares which will be issued as payment of the 2016 third interim dividend is set by the Board of Directors at €44.64. This price is equal to the average opening price on the Euronext Paris for the twenty trading days preceding March 15, 2017, the date where the Board decided on the payment of the third interim dividend, reduced by the amount of the interim dividend, with a 5% discount, rounded up to the nearest cent. Shares issued in this way will carry immediate dividend rights and will accordingly give the right to any distribution decided from the date they are issued. An application will be made to admit the new shares for trading on the Euronext Paris market.
The ex-dividend date for the 2016 third interim dividend is set for March 20, 2017. The period for exercising the option will begin on March 20, 2017, and will end on March 29, 2017, both dates inclusive. The option may be exercised on request with authorized financial brokers.
For holders of ADS, the ex-dividend date for the 2016 third interim dividend is set for March 15, 2017. The period for exercising the option will begin on March 20, 2017, and will end on March 24, 2017, both dates inclusive. The option may be exercised on request with authorized financial brokers.
Shareholders who do not exercise this option within the specified time period will receive the whole of the interim dividend due to them in cash. The date for the payment in cash is set for April 6, 2017.
For shareholders who elect to receive the 2016 third interim dividend in shares, the date for the delivery of shares is set for April 6, 2017. For Total’s American Depositary Shares, the delivery of ADSs is set for April 13, 2017.
If the amount of the 2016 third 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.
