More than a third of E.ON shareholders agree to convert dividend

FRANKFURT Wed May 21, 2014 8:56am EDT

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FRANKFURT (Reuters) - More than a third of E.ON's (EONGn.DE) shareholders opted to convert a part of their dividend for 2013 into shares in Germany's largest utility, the group said on Wednesday.

E.ON had given investors the option to convert 0.43 euros per share, most of the full 0.60 euro per share dividend for 2013, into shares from E.ON's treasury stock by May 15. The remaining 0.17 euros per share will be paid out in cash.

E.ON said 37 percent of its shareholders opted for the share option.

As a result, the company said it will distribute a total of 24 million treasury shares, to be issued on May 23, to shareholders, adding that the cash payout would total 840 million euros ($1.15 billion).

(Reporting by Christoph Steitz; Editing by Ludwig Burger)

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