Michelin approves dividend reinvestment plan

qiangzi

Wednesday, June 13, 2012
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Clermont-Ferrand, France - Michelin shareholders approved the payment of a 2011 dividend of EUR 2.10 a share, with a reinvestment option. The price of the new shares issued to shareholders electing to reinvest their dividend was set at EUR 47.09, representing 90 percent of the average opening prices on the NYSE Euronext Paris stock exchange over the 20 trading days preceding the date of the meeting, less the amount of the dividend. The issued shares will carry dividend rights from January 1, 2012, and rank pari passu with existing shares. The ex-dividend date is May 18. The reinvestment option may be exercised from May 18 until midnight June 5. After that date or if the shareholder elects not to reinvest, the dividend will be paid in cash.