STMicroelectronics shareholders adopt all resolutions at the 2013 Extraordinary General Meeting

16th December 2013 | By Mouseworld Now Correspondent |

New Delhi, India, December 16, 2013: STMicroelectronics, a global semiconductor player serving customers across the spectrum of electronics applications, announces that all the proposed resolutions were adopted at the Company’s Extraordinary General Meeting of Shareholders (the “EGM”), which was held in Schiphol, The Netherlands, on December 2, 2013.

The resolutions, proposed by the Supervisory Board, were:

  • The distribution, in line with the Distribution Policy of the Company, of a cash dividend of US$0.10 per common share for each of the fourth quarter of 2013 and first quarter of 2014, to be paid in December 2013 and March 2014, respectively, to shareholders of record in the month of each quarterly payment.

The amount of the fourth quarter of 2013 and first quarter of 2014 cash dividend is stable with respect to the previous quarterly dividend distribution and equals a 5.1% annualized yield on the Company’s share price at closing on November 29, 2013 on the NYSE.

The first payment date will be on December 12, 2013 for Euronext Paris and Borsa Italiana and on December 17 for the New York Stock Exchange (For additional details on the dividend payment and ex-dividend dates, please refer to the table below).

  • An amendment of the Articles of Association of the Company authorizing the Supervisory Board, in addition to the General Meeting of Shareholders, to resolve upon the distribution of quarterly dividends from the reserves of the Company.

STMicroelectronics President and CEO Carlo Bozotti said, “Today’s decision by ST’s shareholders, to maintain a quarterly dividend of $0.10 per share, reflects the certainty now on the execution of our exit from ST-Ericsson as well as ST’s confidence on combined future cash flow and solid capital structure. The 5.1% yield on the current share price is well deserved by our shareholders who accompanied ST through this year of transition”.

 

© Mouseworld Now News Service

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