AkzoNobel has announced details of the capital repayment and share consolidation approved by shareholders on November 13, 2018.
The record date for shareholders holding common shares will be at the close of trading hours for Euronext Amsterdam on January 23, 2019.
A share consolidation ratio of 9:8 will be effective on January 24, 2019 and shareholders will receive a capital repayment of €8.78 per common share on January 25, 2019.
This €2bn capital repayment is part of a total €6.5bn being distributed to shareholders following the sale of the Specialty Chemicals business.
A special cash dividend of €1bn will be paid in February 2019 and a share buyback program of €2.5bn will commence soon, in addition to €1bn advance proceeds distributed by a special cash dividend paid in December 2017.
Please refer to the AkzoNobel website for further information: https://www.akzonobel.com/en/for-investors/shares/capital-repayment