This results in a dividend payment of €417 million, representing a payout ratio of 48 percent relative to net income before incidentals and fair value adjustments related to the ICI acquisition. An interim dividend of €0.40 was paid in November 2008, which means the final dividend will be €1.40 per share.
The final dividend will be made payable from May 7, 2009, and AkzoNobel shares will be traded ex-final dividend on Euronext Amsterdam from April 29, 2009. Record date is May 4, 2009.
Changes to the Supervisory Board
Following the resignation of former Chairman of the Supervisory Board, Mr. Maarten van den Bergh, on medical grounds, shareholders approved the proposal to reduce the number of Supervisory Board members from nine to eight.
Changes in the Board of Management
Also at today’s meeting, Mr. Tex Gunning, formerly Managing Director of AkzoNobel Decorative Paints, was officially appointed to the Board of Management and will be the Board member responsible for Decorative Paints.
Shareholders today approved linking 50 percent of the long-term incentive program for the Board of Management to the company’s ranking on the Dow Jones Sustainability Indexes.