Dividend on ordinary shares

Koninklijke DSM N.V.

Dividend on ordinary shares Koninklijke DSM N.V.

DSM’s policy is to provide a stable and preferably rising dividend to its shareholders.

Dividend per ordinary share over financial year (€)

Final dividend 2019

A total dividend for the financial year 2019 of €2.40 per ordinary share was adopted by the?Annual General Meeting of DSM's Shareholders on 8 May 2020.?This amounts to an increase of €0.10 (4%) from the €2.30 paid for 2018. An interim dividend of €0.77 per ordinary share was paid in August 2019, thus the final dividend is €1.63 per ordinary share.

Shareholders can opt for this final dividend to be paid out in cash or in the form of ordinary shares. Dividends in cash are paid after deduction of 15% Dutch dividend withholding tax. Stock dividend are paid out from DSM’s own treasury shares - obtained through its share repurchase program - and subject to the conditions as stated in the Notes to the AGM 2020 Agenda. The ex-dividend date on Euronext Amsterdam is 12 May 2020 and the record date is 13 May 2020.

A maximum of 40% of the total dividend amount is available for stock dividend. If shareholders wish to receive in aggregate a distribution in shares which exceeds this maximum percentage of the total dividend, those shareholders who have opted for distribution in the form of shares will receive their stock dividend on a pro rata basis, with the remainder being distributed in cash (after deducting 15% Dutch dividend withholding tax).

Shareholders have from 14 May until 27 May 2020 (15:00 CEST) to indicate if they wish to receive their dividend in the form of ordinary shares, otherwise it will be distributed in cash. The conversion rate between the cash dividend and the stock dividend will be determined on 28 May 2020 after the close of trading on Euronext Amsterdam. This exchange ratio will be based on the volume weighted average price (VWAP) of all ordinary shares in DSM traded at Euronext Amsterdam over a period of five trading days from 21 May 2020 up to and including 27 May 2020. The value of the stock dividend will be virtually equal to the value of the cash dividend. The ordinary shares that constitute the stock dividend are entitled to any dividend for the financial year 2019 and to the dividends for subsequent financial years. Stock dividend rights will not be traded on Euronext Amsterdam.

Timetable

12 May 2020 Ex-dividend quotation
13 May 2020 Record date
14 May - 27 May 2020 (15:00 CEST) Period in which shareholders can indicate their choice
28 May 2020 (COB) Announcement of the exchange ratio
21 May - 27 May 2020 VWAP determination (based on this period)
As of 3 June 2020 Delivery of shares or cash payment

Shareholders are requested to indicate their choice within the defined period, through their bank or broker, to ABN AMRO Bank N.V. (“ABN AMRO”). Shareholders registered in the Company’s shareholder register will be separately informed.

Exchange Ratio Final dividend 2019

The Exchange Ratio of the final dividend over 2019 in shares amounted to 1 new ordinary DSM share as stock dividend for every 69.6007 existing stock-entitled ordinary shares.

Based on the average weighted price of 21 May up to and including 27 May 2020 (VWAP) of €113.4492, 1/69.6007 share (with VWAP of €113.4492) virtually equals to the gross dividend in cash of €1.63 per ordinary share.

Payment of the dividend on the ordinary shares and delivery of ordinary shares, with settlement of fractions in cash, if required, will take place as from 3 June 2020 based on the number of dividend rights delivered.

Paying agent: ABN AMRO Bank N.V., tel: +31 20 344 2000, fax: +31 20 628 8481, email corporate.broking@nl.abnamro.com.

Members are requested to instruct their election electronically through the systems of Euroclear Nederland by means of a Swift MT565.

Final dividend 2018

On 8 May 2019 DSM’s Annual General Meeting of Shareholders passed a resolution to declare a dividend for the 2018 financial year of €2.30 per ordinary share, an increase of €0.45 (24%) on the €1.85 paid for 2017. An interim dividend of €0.77 per ordinary share was paid in August 2018, thus the final dividend amounted to €1.53 per ordinary share. The ex-dividend date on Euronext Amsterdam was 10 May 2019 and the record date was 13 May 2019.

This final dividend of €1.53 was paid out in cash or in the form of ordinary shares at the option of the shareholder. Dividend in cash was paid after deduction of 15% Dutch dividend withholding tax. The stock dividend was paid out from DSM’s own treasury shares (obtained through its share repurchase program) and subject to the conditions as stated in the Notes to the AGM Agenda. As the % of shareholders that wished to receive stock dividend was below the 40% set as maximum for the stock dividend, no scaling down was required.

Exchange Ratio Final dividend 2018

The Exchange Ratio of the final dividend for 2018 in shares amounted to 1 new ordinary DSM share as stock-dividend for every 66.0527 existing stock-entitled ordinary shares. Based on the average weighted price of 21 May up to and including 27 May 2019 (VWAP = €101.0606 as VWAP), 1/66.0527 share (with VWAP of €101.0606) this represented a value of €1.53, which is virtually equal to the gross dividend in cash of €1.53 per ordinary share.

Both the cash dividend and stock dividend were made payable to shareholders on 3 June 2019.

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