GENEVA, April 1, 2016 (GLOBE NEWSWIRE) -- STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, has announced the main resolutions to be submitted for adoption at the Annual General Meeting 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 December 31, 2015, prepared in accordance with International Financial Reporting Standards (IFRS). The 2015 Statutory Annual Accounts were filed with the Netherlands Authority for the Financial Markets (AFM) on
April 1, 2016 and are posted on the Company's website (www.st.com) and the AFM's website (www.afm.nl);
- 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 Mr. 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 Mr. Alessandro Ovi whose mandate will expire as of the 2016 Annual General Meeting of Shareholders; and
- The reappointment of Ms. Janet Davidson as a member of the Supervisory Board for a three-year term, expiring at the 2019 Annual General Meeting of Shareholders.
The record date for all shareholders to participate at the Annual General Meeting of Shareholders will be April 27, 2016. The complete agenda and all relevant detailed information concerning the 2016 Annual General Meeting of Shareholders, as well as all related AGM materials are available on the Company's website (www.st.com) and made available to shareholders in compliance with legal requirements as of
April 1, 2016.
The table below summarizes the full schedule for the quarterly dividend distribution:
|Transfer between New York and Dutch registered shares restricted:|
|Quarter||Global Record Date||Ex-dividend Date in Europe||Payment Date in Europe||Ex-dividend Date in NYSE||NYSE Payment Date: on or after||From End of Business in Europe on:||Until Open of Business in NY on:|
ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST's products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices. By getting more from technology to get more from life, ST stands for life.augmented.
In 2015, the Company's net revenues were $6.90 billion, serving more than 100,000 customers worldwide. Further information 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 1 58 07 77 85
2016 AGM proposed resolutions PR http://hugin.info/152740/R/1999973/737627.pdf