In 2011, the Annual General Meeting adopted the amendment to the articles of EDF with the implementation of a "loyalty bonus" of 10% for shareholders holding their shares in registered form (pure or administered) for at least 2 calendar years continuously.
Shareholders' combined meeting 24 may 2011 decides to amend article 24 (Allocation of financial results) of the bylaws of the Company as follows:
" ...
2. Any shareholder who, at the end of the financial year, has held registered shares for at least two years and still holds them at the date of payment of the dividend in respect of this financial year, shall receive in respect of such shares a bonus equal to 10% of the dividend paid for the other shares, including any dividend which is paid in new shares. Where applicable, the increased dividend will be rounded down to the nearest cent. New shares thus issued shall rank pari passu with the existing shares in respect of which they were issued, for the purpose of calculating the rights to bonus dividend and increased distributions.
Similarly, any shareholder who, at the end of the financial year, has held such registered shares for at least two years and still holds them at the issuance date of a share capital increase by way of capitalization of reserves, profits or premiums that gives rise to bonus shares distribution, shall receive additional bonus shares equal to 10% of the number distributed, rounded down to the nearest whole number in case of fractions.
The number of shares giving entitlement to such increases may not exceed 0.5% of the share capital per shareholder as at the end of the relevant financial year.
In the event of a dividend payment in shares or bonus shares distribution, any additional shares shall rank pari passu with the shares previously held by the shareholder for the purpose of determining any bonus dividend or bonus shares distribution. However, in the event of fractions:
The provisions of this paragraph shall apply for the first time to the payment of the dividend to be distributed in respect of the financial year ending on 31 December 2013, determined by the ordinary shareholders' meeting to be held in 2014."
(Source Guide to the General Shareholders' Meeting - Convening notice - p.32)
The Shareholders' meeting on 30 May 2013 approved a total dividend of €1.25 per share for 2012. This represents a distribution rate of 55% of the EDF Group net income in 2012.
The Board of Directors and the Shareholders' meeting of 30 May 2013 decided for a payment of 0.68€ per share on the 2012 remaining dividend to be paid, with the option for a portion of €0.10 per share to be paid in new EDF shares while the remainder of 0.58€ will be in cash.
Thus, during the option period, each shareholder will be offered to opt for a payment in new EDF shares for a portion of €0.10 per share on the relevant shares owned ; the remainder of the dividend, 0.58€ per share, will be paid in cash. Once the deadline of the option period has expired, each shareholder who has not exercised this option will be receive their dividend all in cash.
When the amount of the dividend to which a shareholder is entitled to does not correspond to a whole number of shares, the shareholder may obtain the next lower number of shares completed by an equalizing payment in cash. The issuie price of the new shares, as announced at the Sharehorders' meeting of 30 May 2013, is 15,29€ per share.
In 2012, in respect of 2011 results, The General Meeting of Shareholders held on May 24, 2012 voted for the payment of a dividend of€1.15 per share, in respect of 2010.
This represents a payout of 60% of the Group's 2011 net income excluding non-recurring items.
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