Eutelsat Communications: Result of the Option to Reinvest the Dividend in Shares

Rhea-AI Summary

Eutelsat Communications held its Annual General Meeting on November 10, 2022, where shareholders approved a dividend of €0.93 per share for the fiscal year ending June 30, 2022. Shareholders could opt for cash or new shares, and 62% chose the scrip dividend. A total of 18,381,330 new shares will be issued on December 16, 2022, increasing the company’s share capital to €248,926,325 ordinary shares. Cash dividends totaling €81 million will also be paid on the same date.

Positive

• Dividend of €0.93 per share approved.
• 62% of shareholders opted for scrip dividend, indicating confidence in equity.
• Issuance of 18,381,330 new shares increases market cap.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

At the Annual General Meeting of Shareholders of Eutelsat Communications (ISIN : FR0010221234 - Euronext Paris : ETL) held on November 10, 2022, shareholders approved payment of a dividend of €0.93 per share for the financial year ended 30 June 2022, and the option for the shareholder of receiving the entire part of the dividend either in cash or in new shares of the Company. The option for payment of the dividend in shares by each shareholder had to be exercised from 21 November 2022 to 9 December 2022 inclusive.

62% of the rights were exercised in favor of the scrip dividend.

The 18,381,330 new shares will be issued and delivered on 16 December 2022. They will carry rights to the dividend for the financial year starting 1^st July 2022 and will rank pari passu with existing shares from the issue date. The new shares will be listed on Euronext Paris on December 16 2022.

The share issue will have the effect of increasing Eutelsat Communications’ share capital as of December 16 2022 to 248,926,325 ordinary shares with a par value of €1 each.

Cash dividends will also be paid on December 16 2022, for a total of €81 million.

About Eutelsat Communications

Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. More than 7,000 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Committed to promoting all facets of sustainable development across its business activities, Eutelsat leverages its in-orbit resources to help bridge the digital divide while maintaining a safe and uncluttered space environment. As an attractive and socially responsible employer, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service. Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).

For more about Eutelsat go to www.eutelsat.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005971/en/

Media

Anita Baltagi Tel.: +33 1 53 98 47 47 abaltagi@eutelsat.com

Daphné Joseph-Gabriel Tel.: +33 1 53 98 47 47 djosephgabriel@eutelsat.com

Investors

Thomas Cardiel Tel.: +33 1 53 98 46 81 tcardiel@eutelsat.com

Christine Lopez Tel.: +33 1 53 98 47 02 clopez@eutelsat.com

Source: Eutelsat Communications

FAQ

What is the dividend amount for Eutelsat Communications in 2022?

Eutelsat Communications declared a dividend of €0.93 per share for the financial year ending June 30, 2022.

When will the dividend be paid to shareholders?

The dividend will be paid on December 16, 2022.

What percentage of shareholders chose the scrip dividend for Eutelsat?

62% of the rights were exercised in favor of the scrip dividend.

What is the significance of the new shares issued by Eutelsat?

The issuance of 18,381,330 new shares will increase the company's share capital and provide liquidity to the market.