_408 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE 2023 consolidated financial statements Note 24. SHARE CAPITAL AND SHARE PREMIUMS Changes in share capital and share premiums are analyzed in the table below: (in € millions) Share capital Share premiums Total At January 1, 2022 357 2,746 3,103 Issuance of shares upon exercise of performance share rights 2 74 76 Cancellation of shares (2) (118) (120) Other - - - At December 31, 2022 357 2,702 3,059 Issuance of shares upon exercise of performance share rights - - - Cancellation of shares - - - Other - - - AT DECEMBER 31, 2023 357 2,702 3,059 Changes in outstanding shares are analyzed in the table below: (number of shares) Shares issued Treasury shares Shares outstanding At January 1, 2022(1) 714,121,800 - 714,121,800 Issuance of shares upon exercise of performance share rights 4,322,150 - 4,322,150 Share buybacks - (4,326,536) (4,326,536) Sales of treasury shares - - - Cancellation of shares (4,326,536) 4,326,536 - Other - - - At December 31, 2022 714,117,414 - 714,117,414 Issuance of shares upon exercise of performance share rights 840,651 - 840,651 Share buybacks - 34,529 34,529 Sales of treasury shares - (34,368) (34,368) Cancellation of shares - - - Other - - - AT DECEMBER 31, 2023 714,958,065 161 714,958,226 (1) Data for January 1, 2022 have been restated to reflect the four-for-one stock split on June 16, 2022. Pursuant to the Annual Shareholders Meeting of May 13, 2022, for each existing share with a par value of €2.00 held on June 16, 2022, shareholders received four new shares with a par value of €0.50 in exchange, and the total number of shares making up the capital was multiplied by four. On June 16, 2022, the 178,530,462 outstanding shares were delisted and 714,121,848 new shares were created and listed on Euronext. The 2022 dividend paid to shareholders in 2023 was €1.25 per share. The dividend was paid in full in cash for a net amount of €893 million (2022: €803 million). The Managing Chairman will propose that shareholders approve the payment of a 2023 dividend in 2024 of €1.35 per share.
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