Total to Issue New Shares as Part of Interim Dividend Payment

By Max BernhardFeaturesDow Jones Newswires

Total SA (FP.FR) will issue new shares, representing 1% of its share capital, to be paid as an interim dividend, the company said Tuesday.

The French energy provider said it will issue 25.6 million shares with a price of 41.12 euros ($48.27), after 69% of shareholders had chosen to receive payment for the 2017 first interim dividend in shares. In September, Total had offered a first interim dividend of EUR0.62 per share with the option for shareholders to receive payment in cash or in new shares.

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New shares will be delivered and admitted to trading on Euronext Paris October 12, the company said. The shares will carry immediate dividend rights and will be fully assimilated with already listed existing shares.

The same day a remaining cash dividend of EUR487 million will be paid to shareholders who did not elect to receive their dividend in shares.

Write to Max Bernhard at; @mxbernhard

(END) Dow Jones Newswires

October 10, 2017 12:53 ET (16:53 GMT)