This excerpt taken from the LUX 6-K filed Jun 4, 2008.
DIVIDEND PROPOSAL AND TAX REGIME
To our stockholders
At the l Ordinary Shareholders Meeting of Luxottica Group S.p.A. to be held in Milan on May 13, 2008 on first call, the Board of Directors of the Company, taking into consideration the foreseeable growth and profit prospects of the Group, will submit to shareholders a proposal to adopt a resolution for the distribution of a cash dividend in the amount of Euro 0,49 per ordinary share, and therefore per American Depositary Share (each American Depositary Share represents one ordinary share). This proposal compares with a cash dividend, distributed in 2007, of Euro 0,42 per ordinary share.
If approved, Luxottica Group will pay the dividend to all holders of ordinary shares of record on May 16, 2008, and to all holders of ADSs of record on May 21, 2008. In order to be a ADS holder of record on May 21, 2008 and thus be entitled to such dividend, you must purchase the ADSs on or before May 16, 2008. The ordinary shares listed on the Milan Stock Exchange, and the ADSs listed on the New York Stock Exchange, will be traded ex-dividend on May 19, 2008.
The dividend will be paid on May 22, 2008, in Euro, by Monte Titoli S.p.A., authorized intermediary, to all ordinary shares depository banks. For the holders of ADSs, the dividend will be paid to Deutsche Bank Trust Company Americas, as depositary of the ordinary shares and the issuer of the ADSs, through Deutsche Bank S.p.A., as custodian under the Deposit Agreement. Deutsche Bank Trust Company Americas anticipates that dividends will be payable to all the ADSs holders commencing from and after May 29, 2008, upon satisfaction of the documentation requirements referred to below, at the Euro/U.S. Dollar exchange rate in effect on May 22, 2008.