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Article L228-18 of the French Commercial code

The dividend distributed, if any, to holders of preference shares may be paid in equity securities, in accordance with the terms set by the Extraordinary General Meeting or the Articles of Association.

Original in French 🇫🇷
Article L228-18

Le dividende distribué, le cas échéant, aux titulaires d’actions de préférence peut être accordé en titres de capital, selon les modalités fixées par l’assemblée générale extraordinaire ou les statuts.

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