Trane Technologies Reports Results of Voting from 2022 Annual General Meeting, Declares Quarterly Dividend

Rhea-AI Summary

Trane Technologies held its 2022 Annual General Meeting in Ireland, where shareholders approved six key proposals. All 11 board nominees were re-elected, and approximately 92% supported executive compensation. The appointment of PricewaterhouseCoopers as independent auditors was approved by 91% of votes. Shareholder authorities to issue new shares and treasury shares were renewed with favor rates of 97% and 99%, respectively. A quarterly dividend of $0.67 was declared, payable on September 30, 2022, marking a commitment to shareholder returns since 1919.

Positive

• All board nominees were approved, ensuring stability in leadership.
• 92% of shareholders supported executive compensation, indicating confidence in management.
• Quarterly dividend of $0.67 reinforces commitment to returning value to shareholders.

Negative

• None.

SWORDS, Ireland--(BUSINESS WIRE)-- Trane Technologies plc (NYSE:TT), a global climate innovator, held its 2022 Annual General Meeting of shareholders in Adare, Ireland.

During the Annual General Meeting, the company’s shareholders considered six proposals: nominations to reelect 11 members of Trane Technologies’ Board of Directors; advisory approval of the compensation of the company’s named executive officers; appointment of independent auditors and authorization of the Audit Committee to set the auditors’ remuneration; renewal of the Board of Directors’ existing authority to issue shares; renewal of the Board of Directors’ existing authority to issue shares for cash without first offering shares to existing shareholders; and determination of the price range at which the company can re-allot shares that it holds as treasury shares.

The results of the Annual General Meeting voting are as follows:

All 11 individuals nominated for the Board of Directors – Kirk E. Arnold, Ann C. Berzin, April Miller Boise, John Bruton, Jared L. Cohon, Gary D. Forsee, Linda P. Hudson, Myles P. Lee, David S. Regnery, John P. Surma and Tony L. White – were elected to a one-year term, which expires at the company’s next Annual General Meeting.

The proposal to give advisory approval of the compensation of the company’s named executive officers received approximately 92 percent of votes cast in favor.

The proposal to approve the appointment of PricewaterhouseCoopers as the independent auditors of the company and to authorize the Audit Committee to set the auditors’ remuneration received approximately 91 percent of the votes cast in favor.

The proposal to approve renewal of the Board of Directors’ existing authority to issue shares received approximately 97 percent of the votes cast in favor.

The proposal to approve renewal of the Board of Directors’ existing authority to issue shares for cash without first offering shares to existing shareholders received approximately 98 percent of the votes cast in favor.

The proposal to determine the price range at which the company can re-allot shares that it holds as treasury shares received approximately 99 percent of the votes cast in favor.

The Board of Directors also declared a quarterly dividend of $0.67 per ordinary share, or $2.68 annualized. The dividend is payable September 30, 2022, to shareholders of record on September 2, 2022. Trane Technologies has paid consecutive quarterly cash dividends on its common shares since 1919 and annual dividends since 1910.

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Learn more at TraneTechnologies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220602006002/en/

Media:

Jennifer Regina, Trane Technologies

+1-704-712-5721

jennifer.regina@tranetechnologies.com

Investors:

Zachary Nagle, Trane Technologies

+1-704-990-3913

zachary.nagle@tranetechnologies.com

Source: Trane Technologies

FAQ

What was the outcome of Trane Technologies' 2022 Annual General Meeting?

All proposals were approved, including the re-election of board members and executive compensation.

When is the dividend payment date for Trane Technologies?

The dividend is payable on September 30, 2022, to shareholders of record on September 2, 2022.

What is the declared dividend amount for Trane Technologies?

The declared quarterly dividend is $0.67 per ordinary share.

How long has Trane Technologies been paying dividends?

Trane Technologies has paid consecutive quarterly dividends since 1919.