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STMicroelectronics Reports on Main Resolutions for 2016 AGM

Proposes dividends, two board members.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

STMicroelectronics announced the main resolutions to be submitted for adoption at the Annual General Meeting (AGM) of shareholders, which will be held in Amsterdam, the Netherlands, on May 25, 2016.
 
The main resolutions, proposed by the Supervisory Board, include:
• The adoption of the company’s Statutory Annual Accounts for the year ended Dec. 31, 2015, prepared in accordance with International Financial Reporting Standards (IFRS).
• The distribution of a cash dividend of US$0.24 per outstanding share of the company’s common stock, to be distributed in quarterly installments of US$0.06 in each of the second, third and fourth quarters of 2016 and first quarter of 2017 to shareholders of record in the month of each quarterly payment as per the table below. The proposed dividend implies a 4.3% yield on the current share price, substantially in line with historical dividend yield for STM shares.
• The appointment of Salvatore Manzi as a member of the Supervisory Board, for a three-year term expiring at the 2019 Annual General Meeting of Shareholders, in replacement of Alessandro Ovi whose mandate will expire as of the 2016 Annual General Meeting of Shareholders.
• The reappointment of Janet Davidson as a member of the Supervisory Board for a three-year term, expiring at the 2019 Annual General Meeting of Shareholders.

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