Timeline for the dividend process in German equities during the period around Easter and 1 May 2017

CBF¹ would like to inform customers about the timeline (annual general meeting (AGM) date, ex-date, record date, payment date) for the dividend process during the period around Easter and 1 May 2017.

The following rules apply, in context of the introduction of the record date on 1 January 2017 and the T2S Corporate Actions Subgroup (CASG) standards:

• The earliest payment date is the third business day (according to TARGET2 calendar) after the meeting date, under the terms of the German Stock Corporation Law.
• The ex-date is  the business day (according to the TARGET2-Securities calendar) directly after the AGM date. Note that Good Friday, Easter Monday and 1 May are FoP settlement days in T2S.
• The record date is two business days (according to the TARGET2 calendar) after the AGM date. Thus all cum trades, settled within the T+2 period, are contained in the record date position.
  

The following table shows the timeline in different scenarios:

AGM= Annual General Meeting Ex= ex-date RD= record date PD= payment date

In this context, CBF would like to clarify that segregated positions out of cross-shareholding are only excluded from event processing, if they are booked in the CASCADE sub-account 650 on record date, at end of day.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.