Rémy Cointreau Offers Share Option for 2023-24 Dividend
Rémy Cointreau Shareholders' Meeting Highlights
The recent meeting of shareholders for Rémy Cointreau has unveiled exciting options for investors relating to the 2023-24 ordinary dividend payment. With the management committed to offering flexibility, they made a significant decision to allow shareholders to choose between receiving their dividends in cash or shares, empowering them to align their preferences with their investment strategies.
Dividend Payment Details
According to the approved measures, each share will yield a dividend of €2.00, a decision made with the shareholders' best interests in mind. This flexibility is designed to accommodate varying investment desires among stakeholders.
The option for shareholders to decide was made available for a defined period that started on July 26. The overwhelming response saw 59.8% of rights exercised in favor of the share payment during this time. This statistic illustrates a strong trend towards equity participation, reflecting shareholders' confidence in the company's future.
New Shares Issuance
To facilitate the payment of dividends in shares, Rémy Cointreau will issue an impressive total of 907,322 new shares. The issuance price for these shares is set at €67.16, which represents a careful calculation to ensure that the interests of existing shareholders are considered. This price reflects 90% of the average share price on Euronext Paris during a defined period before the shareholders' meeting, adjusted accordingly for the dividend.
Additionally, the new shares will launch their trading journey on Euronext Paris on October 1. It's also important to note that these new shares will possess dividend rights beginning April 1, establishing them firmly in the financial fabric of the company.
Cash Dividend Payment
For shareholders who prefer not to partake in the share offering, Rémy Cointreau will ensure that cash dividends are also processed on October 1. This dual approach aimed at accommodating diverse shareholder preferences demonstrates the company's commitment to maintaining strong relationships with its investor community.
Share Capital Information
With this new issuance, the total share capital of Rémy Cointreau now stands at €83,456,465.60, represented by 52,160,291 shares, each carrying a par value of €1.60. This reflects the company’s robust foundation and continued growth trajectory in the spirits market.
About Rémy Cointreau
Rémy Cointreau stands as a beacon of luxury in the spirits industry. With a legacy rooted in excellence and passion, the family-owned French Group curates a selection of extraordinary products spanning various flavors and terroirs. The Group proudly oversees a portfolio comprising 14 distinctive brands, including the renowned Rémy Martin and LOUIS XIII cognacs, as well as the exquisite Cointreau liqueur.
The ambition of Rémy Cointreau is clear: to ascend to the pinnacle as the world's leader in exceptional spirits. It achieves this by harnessing the creativity and dedication of its 1,943 employees, alongside strategic distribution establishments across key markets. Their commitment to exceptional quality and the preservation of heritage is evident in every bottle they produce, ensuring lasting legacies in modernity.
Frequently Asked Questions
What is the dividend amount for the 2023-24 fiscal year?
The ordinary dividend is set at €2.00 per share for the 2023-24 fiscal year.
Can shareholders choose how to receive their dividends?
Yes, shareholders have the option to receive dividends in cash or shares.
What percentage of rights were exercised for the share payment?
Approximately 59.8% of rights were exercised in favor of receiving the dividend in shares.
When will the new shares be available for trading?
The new shares will be available for trading on Euronext Paris starting October 1.
What is the total share capital of Rémy Cointreau?
The total share capital of Rémy Cointreau amounts to €83,456,465.60, divided into 52,160,291 shares.
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