Philips Sets Exchange Ratio for 2023 Dividend

Koninklijke Philips N.V. (PHG) has released an update.

Royal Philips has announced the exchange ratio for its 2023 dividend, setting the conversion at 1 new share for every 29.2684 existing shares, based on a volume weighted average price, resulting in the issuance of 30,860,582 new shares. Shareholders will receive dividends in new shares from May 16, 2024, with post-cancellation share capital reduced to 939,939,384 common shares after the planned cancellation of shares bought back under a previous repurchase program.

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