Accor : Payment of the 2008 Dividend
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Accor : Payment of the 2008 Dividend
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Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2009-03-13
The Accor Board of Directors has decided to recommend that shareholders at the Annual Meeting on May 13 approve the payment of a 2008 dividend of EUR1.65 a share, with the option of reinvesting the dividend in new shares. The price of the new shares issued under the option will be equal to the average of the opening prices over the twenty trading days preceding the date of the Annual Meeting, less the amount of the dividend per share.
Due to the dividend reinvestment option, the dividend payment process will take place as follows:
- The ex-dividend date is Wednesday, May 20.
- Shareholders electing to reinvest their dividend may submit their request to their broker or banker at any time from Wednesday May 20 to close of business on Monday June 8.
- The dividend will be paid in cash or the new shares will be settled on June 17.
If the amount of the reinvested dividend does not correspond to a whole number of shares, the shareholder may purchase the next lower whole number of shares and receive the difference in cash.
The new shares will be subject to all the provisions of the law and the bylaws and carry dividend rights from January 1, 2009.
Accor, a major global group and the European leader in hotels, as well as the global leader in prepaid services, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40 years of expertise in two core businesses:
- Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, Ibis, all seasons, Etap Hotel, Formule 1 and Motel 6 brands, representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Lenotre;
- Prepaid Services, with 32 million people in 40 countries benefiting from Accor Services products in employee and public benefits, rewards and loyalty, and expense management.
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