TE Connectivity completed the change in the place of incorporation of the publicly traded parent company of TE Connectivity from Switzerland to Ireland.
The change in place of incorporation resulted in each shareholder of TE Connectivity Ltd. receiving one share of TE Connectivity plc., a company incorporated under the laws of Ireland, for each share of TE Connectivity Ltd. held immediately prior to the change in incorporation. The company will continue to be a U.S. Securities and Exchange Commission reporting company, and its ordinary shares will continue to trade on the New York Stock Exchange (NYSE) under the symbol TEL.
At the annual general meeting on 13 March 2024, shareholders approved the distribution of a dividend payable from reserves from capital contributions to be paid in four equal quarterly installments of $0.65. Dividends for TE Connectivity’s first fiscal quarter of 2025 were paid on 6 December 2024, to the shareholders of record on 22 November 2024, and for TE Connectivity’s second fiscal quarter of 2025 on 7 March 2025, to the shareholders of record on 21 February 2025. Beginning in TE Connectivity’s third fiscal quarter of 2025, dividends will be declared and paid on a quarterly basis by the board of directors as provided by Irish law.
Further, on 12 June 2024, shareholders approved the reduction of the share premium account of TE Connectivity to allow for the creation of distributable reserves following the effective date of the reincorporation. As required by Irish law, TE will apply to the Irish High Court for an order seeking the approval of the reduction of the company capital of TE by the cancellation of the entire amount standing to the credit of TE’s share premium account.