AMSTERDAM, Netherlands, April 29, 2014 (GLOBE NEWSWIRE) -- At today's Annual General Meeting (AGM), shareholders of Akzo Nobel N.V. (AkzoNobel) adopted all resolutions including the company's 2013 financial statements and agreed that the 2013 financial year dividend would be €1.45 (2012: €1.45) per common share. An interim dividend of €0.33 was paid in November 2013, which means the final payment will be €1.12 per share.
The final dividend will be paid on May 28, 2014. Under the conditions to be published by the company and at the shareholder's election, this dividend will be paid either in cash or in stock. The AkzoNobel shares will be traded ex-dividend on Euronext Amsterdam as of May 2, 2014. The record date is May 6, 2014.
Supervisory Board changes, Antony Burgmans new Chairman
Mr Antony Burgmans and Mr Louis Hughes were both re-appointed to the Supervisory Board for a third term of office. Mr Byron Grote was appointed to a first term on the Board.
Chairman Karel Vuursteen stepped down from the Supervisory Board at the AGM, having completed the maximum of three terms of office since joining the Board in 2002, becoming Chairman in 2009. The Supervisory Board has elected Mr Burgmans as Chairman to succeed Mr Vuursteen.
Commenting on his outgoing colleague Karel Vuursteen, new Chairman Antony Burgmans said: "Karel has made an extraordinary contribution to AkzoNobel over many years, both as Chairman and a Member of our Supervisory Board. My colleagues on the Board and I would like to express our gratitude and appreciation for his dedication, his highly engaged and visionary leadership, his insightful view on good governance and also his ready humor. He has been a pleasure to work with and we wish him well."
Sir Peter Ellwood also stepped down after six years on the Board. Burgmans added: "Sir Peter provided invaluable insight and counsel with respect to the integration of ICI within AkzoNobel. As a very engaged member of the Audit Committee, he also provided judicious oversight of the company's operating financial condition." The AGM thanked Mr Vuursteen and Sir Peter for their respective contributions to the company.
Supervisory Board Committees
The changes to the membership of the Supervisory Board have also led to changes in membership of its committees:
- Byron Grote has been appointed to the Audit Committee joining Mr Dolf van den Brink (chair), Mrs Peggy Bruzelius and Louis Hughes.
- Antony Burgmans has become chair of the Nomination Committee; the members of this Committee are Ms Sari Baldauf and Mr Ben Verwaayen.
- Sari Baldauf has been appointed chair of the Remuneration Committee; its members are Antony Burgmans and Ben Verwaayen.
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AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 50,000 people around the world are committed to delivering leading products and technologies to meet the growing demands of our fast-changing world.
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Safe Harbor Statement
This press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website www.akzonobel.com
AkzoNobel press release pdf http://hugin.info/130660/R/1781104/609207.pdf
Source:Akzo Nobel NV