Shareholders who elected an interim dividend in shares will receive one new TNT N.V. ordinary share for every 91 dividend rights. This stock dividend right represents a value of € 0.1869 which is 3.82% above the value of the cash dividend. The conversion rate has been based on the volume-weighted average share price of € 17.0062 for all TNT N.V. shares traded on Euronext Amsterdam over the three trading
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