Hogan Lovells advises Fresenius on its first scrip dividend

Hogan Lovells advises Fresenius SE & Co. KGaA on its first scrip dividend

Press releases | 20 June 2022

Led by Frankfurt-based partner Michael Schlitt international law firm Hogan Lovells has advised Fresenius SE & Co. KGaA on its first scrip dividend transaction.

Fresenius gave its shareholders the choice of receiving their dividend for the 2021 financial year in cash only or partly in cash and partly in the form of new shares of Fresenius SE & Co. KGaA. With a subscription price of EUR 31.086 for each new share and a subscription ratio of 47.1 to 1, the acceptance rate was around 40 percent of the dividend-bearing shares. To create around 4.7 million new shares, Fresenius SE & Co. KGaA increased its share capital by making use of authorized capital. 

Hogan Lovells advised Fresenius SE & Co. KGaA on the structuring, tax implications and settlement of the first scrip dividend. 

Hogan Lovells team for Fresenius SE & Co. KGaA

Prof. Dr. Michael Schlitt (Partner, Lead Partner), Mark Devlin (Counsel), Dr. Susanne Ries (Of Counsel),  Christian Schröder (Associate), Eva-Christina Sommer (Senior Business Lawyer), Simona Gradišek (Senior Business Lawyer) (all Corporate and Capital Markets, Frankfurt);

Dr. Heiko Gemmel (Partner), Vanessa Rinus (Associate) (both Tax, Dusseldorf);

Ben Garcia (Partner, US Law, New York);

Dr. Lutz Angerer (Partner), Thomas Weber (Counsel) (both Corporate, Munich). 

Fresenius SE & Co. KGaA (Inhouse): Dr. Jan Winzen (Lead), Matthias Fenner (Lead Legal Corporate)