STMicroelectronics’ Annual General Meeting 2022

Rhea-AI Summary

STMicroelectronics (NYSE: STM) held its 2022 Annual General Meeting in Amsterdam on May 25, 2022, where several resolutions were approved. Key decisions included adopting the company's statutory annual accounts for 2021 prepared under IFRS, approving a quarterly cash dividend of $0.24 per share, and reappointing board members. Share repurchase and new share issuance authorizations were also granted. The detailed agenda and minutes will be available on the company's website, enhancing transparency for shareholders.

Positive

• Approval of a quarterly cash dividend of $0.24 per share, enhancing shareholder returns.
• Reappointment of board members ensures continuity in governance.
• Authorization for share repurchase may support share price stability.

Negative

• None.

STMicroelectronics’ Annual General Meeting 2022

Amsterdam, May 25, 2022 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced the results related to the voting items of its 2022 Annual General Meeting of Shareholders (the “2022 AGM”), which was held today in Amsterdam, the Netherlands.

The resolutions, approved by the Shareholders, were:

• The adoption of the Company's statutory annual accounts for the year ended December 31, 2021, prepared in accordance with International Financial Reporting Standards (IFRS-EU). The 2021 statutory annual accounts were filed with the Netherlands Authority for the Financial Markets (AFM) on March 24, 2022 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 2022 and first quarter of 2023 to shareholders of record in the month of each quarterly payment as per the table below;
  
  
• The reappointment of Ms. Janet Davidson, as member of the Supervisory Board, for a two-year term expiring at the end of the 2024 AGM;
  
  
• The appointment of Ms. Donatella Sciuto, as member of the Supervisory Board, for a three-year term expiring at the end of the 2025 AGM in replacement of Ms. Lucia Morselli whose mandate will expire at the end of the 2022 AGM;
  
  
• The approval of the stock-based portion of the compensation of the President and CEO;
  
  
• The authorization to the Managing Board, until the end of the 2023 AGM, to repurchase shares, subject to the approval of the Supervisory Board;
  
  
• The delegation to the Supervisory Board of the authority to issue new common shares, to grant rights to subscribe for such shares, and to limit and/or exclude existing shareholders’ pre-emptive rights on common shares, until the end of the 2023 AGM;
  
  
• The discharge of the sole member of the Managing Board; and
  
  
• The discharge of the members of the Supervisory Board.
  
  

The complete agenda and all relevant detailed information concerning the 2022 AGM, 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.

The draft minutes of the AGM will be posted on the General Meeting of Shareholders page of the Company’s website (www.st.com) within 30 days following the 2022 AGM.

The table below summarizes the full schedule for the quarterly dividend distribution:

								Transfer between New York and Dutch registered shares restricted:
Quarter		Ex-dividend Date		Global Record Date	Payment Date in Europe	NYSE Payment Date: on or after		From End of Business in Europe on:	Until Open of Business in NY on:
Q2 2022		20-Jun-22		21-Jun-22	22-Jun-22	28-Jun-22		20-Jun-22	22-Jun-22
Q3 2022		19-Sep-22		20-Sep-22	21-Sep-22	27-Sep-22		19-Sep-22	21-Sep-22
Q4 2022		12-Dec-22		13-Dec-22	14-Dec-22	20-Dec-22		12-Dec-22	14-Dec-22
Q1 2023		20-Mar-23		21-Mar-23	22-Mar-23	28-Mar-23		20-Mar-23	22-Mar-23

About STMicroelectronics
At ST, we are 48,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and connectivity. ST is committed to becoming carbon neutral by 2027. Further information can be found at www.st.com.

For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel : +41.22.929.58.12
Celine.berthier@st.com

MEDIA RELATIONS:
Alexis Breton        
Corporate External Communications
Tel: + 33.6.59.16.79.08
alexis.breton@st.com

 

Attachment

• C3093C - Adopted Resolutions - 2022 AGM - FINAL FOR PUBLICATION

FAQ

What dividend has STMicroelectronics announced for 2022?

STMicroelectronics announced a cash dividend of $0.24 per outstanding share, to be distributed quarterly.

When will STMicroelectronics pay its 2022 dividend?

The dividend will be paid in quarterly installments of $0.06 in Q2, Q3, Q4 of 2022, and Q1 of 2023.

What were the key resolutions approved at the STM 2022 AGM?

Key resolutions included the adoption of annual accounts, dividend distribution, and board member reappointments.

Where can I find the results of the STMicroelectronics 2022 AGM?

Results and minutes of the 2022 AGM are available on STMicroelectronics' website.