TRVG - trivago Announces Ex-Dividend Date for Extraordinary Dividend and Updates Effective Date for the Ratio Change under its American Depositary Share Program | Benzinga
DÜSSELDORF, Germany, November 1, 2023 - trivago N.V. (NASDAQ:TRVG) announced today that, in connection with the Company's recently announced one-time extraordinary cash dividend of EUR 0.529228 per share (the "Extraordinary Dividend"), Nasdaq has determined that the ex-dividend date for the Extraordinary Dividend will be November 14, 2023 (the "Ex-Dividend Date"). The payment of the distribution on the Company's American Depositary Shares ("ADSs") remains anticipated to be made on November 13, 2023, as previously announced by the Company.
Since the payment of the Extraordinary Dividend represents more than 25% of the price of the Company's ADSs, Nasdaq has determined that the Company's ADSs will trade with "due bills" representing an assignment of the right to receive the Extraordinary Dividend from the record date of November 3, 2023 through the closing of The Nasdaq Stock Market on the payment date of November 13, 2023 (this period of time representing the "Dividend Right Period"). Thus, the Company's ADSs will trade with this "due bill" and the assignment of the right to receive the Extraordinary Dividend during the Dividend Right Period until the Ex-Dividend Date of November 14, 2023, the first business day after the payment date.
ADS holders who sell their ADSs during the Dividend Right Period and prior to the Ex-Dividend Date will be selling their right to the Extraordinary Dividend, and such ADS holder will not be entitled to receive the Extraordinary Dividend. Due bills obligate a seller of ADSs to deliver the Extraordinary Dividend payable ...