Philips announces exchange ratio for 2023 dividend

Royal Philips (NYSE: PHG, AEX: PHIA), today announced that the exchange ratio for the dividend for the year 2023 is 1 new common share for every 29.2684 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 9, 10 and 13, 2024, of EUR 24.8481 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 30,860,582 new common shares.

Distribution of the dividend with delivery of new common shares and settlement of any fractions in cash, will take place from May 16, 2024. Upon distribution, the total issued share capital will amount to EUR 188,875,310 representing 944,376,548 common shares.

In the second quarter, Philips intends to cancel 4,437,164 shares that were acquired under the now completed EUR 1.5 billion share repurchase program for capital reduction purposes, as announced on July 26, 2021. Post cancellation, the total number of issued shares will amount to 939,939,384 common shares.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring, and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 69,100 employees with sales and services in more than 100 countries.