EDF to Issue 40 Million New Shares Under 2017 Interim Dividend

By FeaturesDow Jones Newswires

EDF (EDF.FR) said on Thursday that it will issue more than 40 million new shares after giving shareholders the option to receive the 2017 interim dividend in cash or shares.

The French energy company said 40,084,530 new shares will be issued after 92.2% of rights were exercised in favor of receiving the 2017 interim dividend in shares.

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The new shares represent 1.4% of the company's share capital on the basis of the current share capital, with a share price set at EUR9.94.

Settlement and delivery of the new shares and their admission to trading on the Euronext stock exchange will occur on 11 December and will carry immediate dividend rights, the company said.

EDF's board of directors in November had declared a dividend for the year of EUR0.15 per share.

The total remaining cash dividend to be paid to shareholders who opted not to receive the interim dividend in shares is around EUR33.75 million, with a payment in cash due on 11 December.

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

December 08, 2017 03:27 ET (08:27 GMT)