ABB Says Shareholders Approve All Proposals At AGM - Quick Facts

(RTTNews) - Swiss engineering firm ABB Ltd. (ANN.L, ABB) said that its shareholders have approved all proposals, including a dividend increase and capital reduction, at the company's annual general meeting in Zurich.

The company noted that a total of 803 shareholders attended the AGM, representing 73.6 percent of the total votable share capital.

The company's shareholders elected Frederico Fleury Curado, Robyn Denholm, David Meline and Satish Pai to join the ABB Board. Peter Voser, Jacob Wallenberg, Matti Alahuhta, David Constable, Louis Hughes, Michel de Rosen and Ying Yeh were re-elected for another term. The shareholders also voted for the proposed Compensation Committee members.

Further, the shareholders supported a seventh consecutive dividend increase to 0.74 Swiss francs per share, up from 0.72 Swiss francs per share last year. The payout is expected for July 2016. The shareholders also approved the management report, the consolidated financial statements and the annual financial statements for 2015.

In addition, shareholders approved in a binding vote the maximum aggregate compensation of the Board of Directors for the 2016-2017 term of office, and of the Executive Committee for the 2017 financial year. They also approved the compensation report for 2015 in a non-binding vote.

ABB shareholders have also approved a capital reduction through the cancellation of 100 million shares repurchased under the share buyback program.