ST reports on resolutions to be proposed at forthcoming EGM of shareholders

By : |September 30, 2013 0

GENEVA, SWITZERLAND: STMicroelectronics has announced the resolutions to be submitted for shareholder adoptionat the forthcoming Extraordinary General Meeting of Shareholders (the “EGM”), which will be held in Schiphol, The Netherlands, on December 2, 2013.

The resolutions, proposed by the Supervisory Board, are:

* The distribution of a cash dividend of $0.10per outstanding common share for each of the fourth quarter of 2013 and first quarter of 2014, to be paid to shareholders as per the table below. The amount of the proposed fourth quarter of 2013 and first quarter of 2014 cash dividend is stable with respect to the previous quarterly dividend distributionand equals a 4.2 percent annualized yield on the company’s share price at closing on September 26, 2013 on the NYSE.

* 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 thedistribution of quarterly dividends from the reserves of the company.

* The record date for all shareholders to participate at the EGM will be November 4, 2013. The complete agenda and all relevant detailed information concerning the EGM, as well as all related EGM materials, will be available on the company’s web site and made available to shareholders in compliance with legal requirementsas of September 27, 2013.

No Comments so fars

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.