57% of shareholders opted to receive the dividend in shares

25/06/2013 - Finance
57% of shareholders opted to receive the dividend payment in shares.

Boulogne-Billancourt, 25 June 2013 – In accordance with the resolution approved by the Ordinary and Extraordinary Shareholders’ Meeting on 30 May 2013, shareholders were invited for the fifth consecutive year, to choose to receive the dividend payment in cash or in new shares. The dividend in respect of the financial year 2012 was set at € 0.69 per share.

The payment of the dividend in shares generated strong interest amongst shareholders. The subscription rate for this option was 57%, which attests to shareholders’ confidence in the strategy and development outlook of the Group.

This operation resulted in the creation of 1,338,791 new shares issued at a price of € 36.69 per share (i.e. a share capital increase of 1.07 %) delivered and listed on NYSE Euronext Paris on 25 June 2013.

The new shares will be issued with all rights attached as of 1 January 2013 and will be completely assimilated with existing shares. Following this operation, the share capital of the company will comprise 126,285,147 shares.

The payment of the dividend in cash, for an amount of € 36.5 million also took place today.

 


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 23,000 employees, integrated manufacturing facilities, advanced R&D and a presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the energy challenges of the 21st century.

Listed on the NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: MSCI World Index, Euronext 100 and CAC 40.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

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