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ABB shareholders approve all proposals at 2022 Annual General Meeting
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(Neutral)
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Rhea-AI Summary
ABB shareholders approved all proposals at the 2022 Annual General Meeting, including an increased dividend of CHF 0.82 per share, set for payment on March 30, 2022. The meeting was conducted virtually, with an independent proxy representing 81% of voting share capital. The Board of Directors, led by Chairman Peter Voser, saw all members re-elected. Shareholders also endorsed a capital reduction via share buybacks and approved the compensation for the Board and Executive Committee. ABB will report Q1 results on April 21, 2022.
Positive
Increased dividend of CHF 0.82 per share approved.
Board of Directors re-elected, indicating stability and ongoing confidence.
Capital reduction through share buybacks supported.
Negative
None.
ZURICH--(BUSINESS WIRE)--
The shareholders of ABB have approved all the proposals by the company’s Board of Directors at its 2022 Annual General Meeting. As ABB continues to prioritize the health of its shareholders and employees, shareholders were not able to attend the virtual meeting in person but could exercise their shareholder rights via the independent proxy who represented 81 percent of the share capital with a right to vote. In addition, ABB offered its shareholders the opportunity to address questions on agenda items to the Board of Directors in writing ahead of the meeting, which was broadcast live.
The shareholders supported the proposed distribution of an increased dividend of CHF 0.82 per share. The dividend payment in Switzerland is planned for March 30, 2022. The shareholders also approved the management report, the consolidated financial statements and the annual financial statements for 2021.
Peter Voser was confirmed as Chairman of the company’s Board of Directors and all other members of the Board were re-elected for another term: Jacob Wallenberg, Gunnar Brock, David Constable, Frederico Fleury Curado, Lars Förberg, Jennifer Xin-Zhe Li, Geraldine Matchett, David Meline and Satish Pai.
Furthermore, a capital reduction through the cancellation of shares repurchased under ABB’s share buyback programs launched in July 2020 and April 2021 was supported. Shareholders also approved in a binding vote the maximum aggregate compensation of the Board of Directors for the 2022–2023 term of office and of the Executive Committee for the 2023 financial year. In addition, in a non-binding consultative vote the shareholders voted in favor of the compensation report for 2021.
The final results of the Annual General Meeting are available on www.abb.com/agm. ABB will be reporting its first quarter results on April 21, 2022.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
