June 18, 2020 – STMicroelectronics, announced the results related to the voting items of its 2020 Annual General Meeting of Shareholders (the “2020 AGM”), which was held today in Schiphol, the Netherlands.
The main resolutions, approved by the Shareholders, were:
- The adoption of the Company’s statutory annual accounts for the year ended December 31, 2019, prepared in accordance with International Financial Reporting Standards (IFRS). The 2019 statutory annual accounts were filed with the Netherlands authority for the Financial Markets (AFM) on March 25, 2020 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$0.168 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of US$0.042 in each of the second, third and fourth quarters of 2020 and first quarter of 2021 to shareholders of record in the month of each quarterly payment as per the table below;
- The authorization to the Supervisory Board to consider during September 2020 to increase such authorized dividend up to a maximum of US$0.24 per outstanding share of the Company’s common stock;
- The appointment of Ms. Ana de Pro Gonzalo as member of the Supervisory Board, for a three-year term expiring at the 2023 AGM, in replacement of Ms. Martine Verluyten whose mandate expired at the end of the 2020 AGM;
- The appointment of Mr. Yann Delabrière as member of the Supervisory Board, for a three-year term expiring at the 2023 AGM, in replacement of Mr. Jean-Georges Malcor whose mandate expired at the end of the 2020 AGM;
- The reappointment, for a three-year term expiring at the 2023 AGM, of the following members of the Supervisory Board: Ms. Heleen Kersten and Messrs. Alessandro Rivera, Frédéric Sanchez and Maurizio Tamagnini;
- The adoption of the Company’s remuneration policy for the members of the Supervisory Board, in line with recent changes in Dutch corporate law and the EU’s shareholder rights directive; and
- The re-appointment of EY as external auditor for the 2020, 2021, 2022 and 2023 financial years.
The proposed resolution related to the amendment of the Company’s remuneration policy for the Managing Board was not adopted. Under the newly implemented Dutch corporate Law, it required a qualified majority of 75% of the votes cast. It received 50.30% of the votes cast.
The complete agenda and explanatory notes, including all the proposed resolutions, and all relevant detailed information concerning the 2020 STMicroelectronics N.V. Annual General Meeting of Shareholders, as well as all related materials, are available on the Company’s website (www.st.com) and have been 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 2020 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 2020 | 22-Jun-20 | 23-Jun-20 | 24-Jun-20 | 30-Jun-20 | 22-Jun-20 | 24-Jun-20 | |
| Q3 2020 | 21-Sep-20 | 22-Sep-20 | 23-Sep-20 | 29-Sep-20 | 21-Sep-20 | 23-Sep-20 | |
| Q4 2020 | 14-Dec-20 | 15-Dec-20 | 16-Dec-20 | 22-Dec-20 | 14-Dec-20 | 16-Dec-20 | |
| Q1 2021 | 22-Mar-21 | 23-Mar-21 | 24-Mar-21 | 30-Mar-21 | 22-Mar-21 | 24-Mar-21 |
Further information can be found at www.st.com.
