Soon-to-merge French utility Suez (SZE.FR) and French state-controlled Gaz de France (1020848.FR) will propose the payment of an exceptional dividend of EUR0.80 per share of the newly created company GDF Suez, the companies said Tuesday in a joint statement.
"This decision takes place within the framework of the shareholders remuneration policy which was defined prior to the merger between Gaz de France and Suez," the two companie said in their statement.
The payment will be effective before the end of this year and will be considered as an interim dividend from a statutory perspective.
Its principle will be submitted to GDF Suez board of directors after the closing of the first half accounts, on August 31, the companies also said.
"GDF Suez's level of activity in 2008 allows to simultaneously consider the pursuit of development, a sound financial structure and the implementation of an attractive shareholders remuneration policy in consistency with the commitments taken," the companies noted.
"That's why this exceptional dividend will come in addition to the 2009 ordinary dividend in regard with 2008 results, and which principles were already announced to the market," they also said.