Akzo Nobel will pay a dividend of EUR 1.20 (2001: EUR 1.20) per common share for the year 2002. Of this dividend, EUR 0.30 per share was already paid as an interim dividend last November. The final dividend will thus be EUR 0.90 per share. This results in a dividend payment of EUR 343 million, a payout ratio of 38% (2001: 37%) relative to net income excluding extraordinary and nonrecurring items.
This final dividend will be made payable from May 5, 2003. The Akzo Nobel shares will be traded ex final dividend on Euronext Amsterdam on April 23, 2003.
Changes in the Supervisory Board
At today’s meeting shareholders approved the proposal to raise membership of the Supervisory Board from ten to eleven and the proposal that Uwe-Ernst Bufe (58) and Cees van Lede (60) will be appointed to the Supervisory Board, effective May 1, 2003.
Dr. Bufe had a long career in the chemical industry and is a former Chief Executive Officer of Degussa A.G.
Hilmar Kopper (68), who has served on the Supervisory Board for thirteen years, has stepped down, as his term of office expired. Mr. Kopper was not available for reappointment. During the Meeting the Chairman of the Supervisory Board, Aarnout A. Loudon, expressed the Company’s deep appreciation to Mr. Kopper for his contributions to Akzo Nobel.
Changes in the Board of Management
Effective May 1, 2003, Cees van Lede will retire as Chairman of the Board of Management to be succeeded by Hans Wijers (52).
During the meeting Mr. Loudon expressed the Company’s great indebtedness to Mr. Van Lede for his contributions to the development of Akzo Nobel. Under his direction the Company was shaped into the present Akzo Nobel, with the integration of the Nobel business, the acquisition of Courtaulds, and the divestment of the fibers activities as major milestones.
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