The dividend policy is set by the Board of Directors of WDP and subsequently proposed to the Annual General Meeting of shareholders at the end of each financial year.
The Board of Directors of WDP has the possibility to decide that the dividend for a financial year is paid out as an optional dividend. An optional dividend is a form of dividend payment where shareholders have the option to add monies due to them by virtue of dividends to the company’s capital in return for receiving newly issued shares (as well as the option of taking the dividend in cash). In other words, the shareholder has the choice of taking the dividend in cash or in shares. The dividend claim in relation to a determined number of existing shares will in that case give the right to a single new share at an issue price per share which may if required represent a discount from the quoted share price (or from the average share price over a given period). For the each financial year the Board of Directors of WDP will decide every time again if it will pay out the dividend in the form of an optional dividend and if it will proceed to this, define the terms hereof.
Dividends paid by WDP are typically subject to the Belgian withholding tax of 30%. A partial or full exemption from withholding tax on dividends can be obtained by shareholders who meet specific conditions imposed by law.