Michelin have announced details of their dividend reinvestment plan for 2010. The dividend is set at EUR1.78 with a reinvestment option.
Reinvestment price has been set at EUR56.5, a 10% discount to market value. Ex-date is 20th May 2011.
Current share price (at 17:39 on 05/20/2011) is EUR62.93.
The market default is cash, shareholders have until the 7th June 2011 to elect to reinvest (although asset management deadlines are likely to be sooner).
Pay date for the dividend or reinvested shares is 20th June 2011. News shares rank pari passu.
Find out more about Michelin in the Shareholders Corner of their website: www.michelin.com/shareholder-section