registration document France Telecom 2009 - Orange.com

financial information concerning the issuer’s assets and liabilities, financial position and profits and losses
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NOTES TO THE ANNUAL FINANCIAL STATEMENTS OF FRANCE TELECOM S.A.
Movements in stock option plans
The following table summarizes the stock option plans granted to France Telecom employees at December 31, 2009 and 2008:
STOCK OPTION PLAN
December 31, 2009 December 31, 2008
Number of options
Weighted average
exercise price
(euros)
Number of options
Weighted average
exercise price
(euros)
France Telecom plan (2005/2007)
Options outstanding at the beginning of the year 22,624,565 22.70 23,664,255 22.70
Options granted - - - -
Options exercised - - (5,350) 23.46
Options cancelled or lapsed (1,271,770) 23.35 (1,034,340) 22.72
Options outstanding at the end of the year 21,352,795 22.66 22,624,565 22.70
France Telecom plan (ex-Wanadoo)
Options outstanding at the beginning of the year 4,644,234 20.57 4,869,159 20.36
Options granted (45,269) 14.71 (204,334) 15.31
Options exercised (8,298) 16.30 (20,591) 22.07
Options cancelled or lapsed - - - -
Options outstanding at the end of the year 4,590,667 20.64 4,644,234 20.57
Orange plan (1)
Options outstanding at the beginning of the year 38,286,539 8.97 39,838,976 8.94
Options granted - - - -
Options exercised (164,054) 6.65 (986,339) 7.51
Options cancelled or lapsed (555,382) 9.29 (566,098) 9.42
Options outstanding at the end of the year 37,567,103 8.97 38,286,539 8.97
(1) The exercise of these options gave rise to the issuance of France Telecom shares pursuant to the options liquidity instruments and to France Telecom S.A.’s decision to issue new shares.
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Options exercisable at year-end
Options exercisable at year-end were as follows:
PLAN
Number of
unexercised options
at year end
Year ended December 31, 2009
Weighted average
period until maturity
(months)
Range of
exercise prices
Number of
options exercisable
at year-end
France Telecom plan (2005/2007) 21,352,795 78 €21.61 - €23.48 12,169,795
France Telecom plan (ex-Wanadoo) 4,590,667 26 €13.84 - €48.70 4,590,667
Orange plan 37,567,103 14 €6.14 - €10.00 37,567,103
6.1.5 Dividend Distributions
At its meeting of July 29, 2009, the Board of Directors approved
the payment of an interim dividend of 0.60 euro cents per share
in respect of 2009. The dividend was paid on September 2,
2009 in the total amount of 1,588 million euros.
The Annual Shareholders’ Meeting of France Telecom S.A. held
on May 26, 2009 decided to pay France Telecom shareholders
a cash dividend of 1.40 euro per share in respect of 2008. Given
the payment of an interim dividend of 0.60 euro per share on
September 11, 2008, in the total amount of 1,563 million euros,
the payment made on June 30, 2009 was 0.80 euro per share,
for a total amount of 2,091 million euros. This payment resulted
in a cash outfl ow of 1,553 million euros and a payment in shares
of 538 million euros as shareholders were able to elect to receive
50% of the fi nal dividend, or 0.40 euro per share, in shares.
The Annual Shareholders’ Meeting of France Telecom S.A. held
on May 27, 2008 decided to pay shareholders a cash dividend
of 1.30 euro per share in respect of 2007. The dividend was
paid on June 3, 2008 in the total amount of 3,386 million euros.
2009 REGISTRATION DOCUMENT / FRANCE TELECOM
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