Geneva, Switzerland, Dec. 2, 2013 (GLOBE NEWSWIRE) -- Schiphol, The Netherlands, December 2, 2013 - STMicroelectronics (NYSE:STM), a global semiconductor leader 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.
"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." said STMicroelectronics President and CEO Carlo Bozotti. "The 5.1% yield on the current share price is well deserved by our shareholders who accompanied ST through this year of transition".
The complete agenda and all relevant detailed information concerning the EGM, as well as all related EGM materials, are available on the Company's web site (www.st.com) and have been available to shareholders in compliance with legal requirements.
The draft minutes of the EGM will be posted on the General Meeting of Shareholders page of the Company website at www.st.com within the month of December 2013.
The table below summarizes the schedule for the next quarterly dividends:
|Quarter||Ex-dividend Date (globally)||Global Record Date||Payment Date in Europe||NYSE Payment Date||Transfer between New York and Dutch registered shares restricted:|
|From End of Business in Europe on:||Until Open of Business in NY on:|
ST is a global leader in the semiconductor market serving customers across the spectrum of sense and power and automotive products and embedded processing solutions. From energy management and savings to trust and data security, from healthcare and wellness to smart consumer devices, in the home, car and office, at work and at play, ST is found everywhere microelectronics make a positive and innovative contribution to people's life. By getting more from technology to get more from life, ST stands for life.augmented.
In 2012, the Company's net revenues were $8.49 billion. Further information on ST can be found at www.st.com.
For further information, please contact:
Group VP, Investor Relations
Tel: +1 602 485 2064
Director, Corporate Media and Public Relations
Tel: +33 158 077 785
EGM press release http://hugin.info/152740/R/1746993/588192.pdf