PARIS — Inter Parfums SA said Friday it will grant a free allotment of 2,915,998 new shares to thank its shareholders for their loyalty and long-term engagement.

The Paris-based subsidiary of Inter Parfums Inc., of New York, is on June 22 to give one new share for every 10 held. The new shares will bear dividend rights starting Jan. 1.

It is the 16th consecutive year the company has issued free shares.