Christian Dior: Combined Shareholders` Meeting of October 26, 2012
Christian Dior: Combined Shareholders’ Meeting of October 26, 2012
Dividend and modification of the fiscal year-end date
Christian Dior’s (Paris:CDI) Combined Shareholders’ Meeting approved as of this day the financial statements of the parent company and the Company’s consolidated financial statements for the fiscal year ended April 30, 2012 and decided to distribute a dividend of €1.10 in respect of that fiscal year. The payment date for this dividend is December 4, 2012.
The Combined Shareholders’ Meeting also approved a resolution to modify the opening and closing dates of the Company’s fiscal year, respectively, to July 1 and June 30 of the following civil year, it being specified that (i) this modification will not apply to the current fiscal year, which will end on April 30, 2013, and (ii) the fiscal year immediately following the current fiscal year will exceptionally last two months, from May 1 to June 30, 2013.
This decision to postpone the Company’s fiscal year-end date by two months (from April 30 to June 30) aims to facilitate financial communication and the monitoring of the Christian Dior group’s business activity and financial results, while maintaining the optimization of the flow of dividend distributions that had prompted the decision taken by the Combined Shareholders’ Meeting of April 5, 2012 to modify the Company’s fiscal year-end date to April 30.
On the basis of the new opening and closing dates of the Company’s fiscal year approved by the Combined Shareholders’ Meeting of October 26, 2012, and subject to any subsequent decisions that may be taken by the shareholders’ meeting and the board of directors of the Company and LVMH:
- the dates for the distribution of dividends to the Company’s shareholders will remain the same as those of LVMH;
- however, given the six-month difference between the fiscal years of Christian Dior and LVMH, Christian Dior will pay an interim dividend when LVMH pays a final dividend, and conversely, Christian Dior will pay a final dividend when LVMH pays an interim dividend.
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