STMicroelectronics Shareholders Approve All Resolutions At AGM - Quick Facts

(RTTNews) - Semiconductor company STMicroelectronics NV (STM) said that all of the proposed resolutions were adopted at the company's annual general meeting of shareholders or AGM, which was held today in Amsterdam, the Netherlands.

The main resolutions approved by the shareholders include adoption of the company's statutory annual accounts for the year ended December 31, 2016, and the distribution of a cash dividend of $0.24 per outstanding share of the company's common stock to be distributed in quarterly installments of $0.06 in each of the second, third and fourth quarters of 2017 and first quarter of 2018.

In addition, shareholders approved the appointment of Frederic Sanchez as a new member of the supervisory board for a three-year term expiring at the 2020 AGM as well as the reappointment of the following members of the Supervisory Board for a three-year term till the 2020 AGM - Heleen Kersten, Jean-Georges Malcor, Alessandro Rivera and Maurizio Tamagnini.

Further, shareholders approved a new four-year unvested stock award plan for management and key employees, the authorization to the Managing Board for eighteen months following the AGM to repurchase shares, the delegation to the Supervisory Board of the authority to issue new common and preference shares and to grant rights to subscribe for such shares as well as to limit or exclude existing shareholders' pre-emptive rights on common shares for a period of eighteen months.