A long-term investor
Wendel is a hands-on investor and shareholder that assists sector-leading companies in their long-term development. Wendel's business model combines the entrepreneurial passion born of a long family tradition with a culture of performance and accountability.
The Executive Board, with authorization from the Supervisory Board, has decided to propose to shareholders at their Annual Meeting on June 4, 2012, a cash dividend of €1.30 per share, 4% more than on 2010 earnings, plus one Legrand share for every 50 Wendel shares held. Shareholders who do not hold a multiple of 50 shares will receive a cash payment in lieu of shares.
The ex-dividend date has been set at June 7, 2012, and the dividend will be paid on June 12, 2012.
As indicated in the prospectus approved by the Autorité des Marchés Financiers (AMF) dated May 14, 2012, under Number 12-204 and pursuant to the fourth resolution approved by the Combined Shareholders' Meeting of June 4, 2012, the Legrand shares issued by Wendel to its shareholders are granted to their opening price on June 12, 2012.
That price is € 24,975. The parity of distribution of one (1) action Legrand share for every fifty (50) Wendel shares held is confirmed.
To determine their taxable income, shareholders should consider that distribution in specie of Legrand shares represents earnings per Wendel share equal to one fiftieth of the share price mentioned above (i.e € 0,4995) which is treated for taxation as an ordinary dividend.