OREANDA-NEWS. At its meeting on March 15, 2016, the Board of Directors of Total declared a third quarter 2015 interim dividend of €0.61 per share and offered, under the conditions set by the fourth resolution at the Ordinary General Meeting of May 29, 2015, the option for shareholders, including holders of its American Depositary Receipts, to receive the third quarter 2015 interim dividend in cash or in new shares of the Company.

The share price for the new shares which will be issued as payment of the third quarter 2015 interim dividend is set by the Board of Directors at €36.24. This price is equal to the average opening price on the Euronext Paris for the twenty trading days preceding March 15, 2016, reduced by the amount of the interim dividend, with a 10% discount, rounded up to the nearest cent. This price is the minimum price set by the fourth resolution at the Ordinary General Meeting of May 29, 2015. Shares issued in this way will carry immediate dividend rights and will accordingly give the right to any distribution decided from the date they are issued. An application will be made to admit the new shares for trading on the Euronext Paris market.

The ex-dividend date for the third quarter 2015 interim dividend is set for March 21, 2016. The period for exercising the option will begin on March 21, 2016, and will end on April 4, 2016, both dates inclusive. The option may be exercised on request with authorized financial brokers. 

For Total’s American Depositary Shares (ADS), the ex-dividend date for the third quarter 2015 interim dividend is set for March 16, 2016. The period for exercising the option will begin on March 21, 2016, and will end on March 30, 2016, both dates inclusive. The option may be exercised on request with authorized financial brokers.

Any shareholder who does not exercise this option within the specified time period will receive the whole of the interim dividend due to them in cash. The date for the payment in cash is set for April 12, 2016. 

For shareholders who elect to receive the third quarter 2015 interim dividend in shares, the date for the delivery of shares is set for April 12, 2016. For Total’s American Depositary Receipts, the delivery of ADSs is set for April 19, 2016. If the amount of the third quarter 2015 interim dividend for which the option of payment in shares is exercised does not correspond to a whole number of shares, the shareholder will receive the number of shares immediately below, plus a balancing cash adjustment.