At today’s Annual General Meeting, shareholders of Akzo Nobel N.V. (AkzoNobel) adopted the company’s 2009 financial statements and approved the dividend for the 2009 financial year at €1.35 (2008: €1.80) per common share.
This results in a dividend payment of €314 million, representing a pay-out ratio of 57 percent relative to net income before incidentals. An interim dividend of €0.30 was paid in November 2009, which means the final dividend will be €1.05per share.
The final dividend will be made payable from May 11, 2010. AkzoNobel shares will be traded ex-final dividend on Euronext Amsterdam from April 30, 2010. The record date is May 4, 2010.
Supervisory Board reappointments
. Karel Vuursteen (Chairman), Antony Burgmans and Louis Hughes were reappointed to serve on the Supervisory Board for a further four-year term.
Amendment to the remuneration policy
proposal to include a claw back provision in the remuneration policy for the Board of Management – best practice according to the amended Dutch Corporate Governance Code – was approved by the shareholders. This provision will make it possible for the Supervisory Board to reclaim variable remuneration components paid to members of the Board of Management if such payments have been made on the basis of financial data found to be incorrect. Further information about the claw back provision is available on the company's corporate website.