CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 19 MARCH 2019 AT 3.10 PM (EET)
Decisions taken at Cargotec's Annual General Meeting 2019
Cargotec Corporation's Annual General Meeting was held today, 19 March 2019 in Helsinki.
The Annual General Meeting approved a dividend of EUR 1.09 be paid for each of class A shares and a dividend of EUR 1.10 be paid for each of class B shares outstanding. The dividend shall be paid in two instalments, in March and October 2019.
The first instalment shall be paid to shareholders who on the record date for dividend distribution, 21 March 2019, are registered as shareholders in the company's shareholder register. The dividend payment date is 28 March 2019. The second instalment shall be paid in October 2019. The second instalment shall be paid to shareholders who are registered as shareholders in the company's shareholder register on the dividend record date, which, together with the payment date, shall be confirmed by the Board of Directors in its meeting scheduled for 1 October 2019.
The meeting adopted the financial statements and consolidated financial statements. The meeting granted discharge from liability to the CEO and the members of the Board of Directors for the financial year 1 January-31 December 2018.
The number of the Board members was confirmed at nine. The current Board members Jorma Eloranta, Tapio Hakakari, Ilkka Herlin, Peter Immonen, Teresa Kemppi-Vasama, Johanna Lamminen, Kaisa Olkkonen, Teuvo Salminen and Heikki Soljama were re-elected to the Board of Directors. The yearly remunerations stayed unchanged: EUR 85,000 will be paid to the Chairman of the Board, EUR 60,000 to the Vice Chairman, EUR 60,000 to the Chairman of the Audit and Risk Management Committee and EUR 45,000 to the other Board members. In addition, members are paid EUR 1,000 for attendance at board and committee meetings. 30 percent of the yearly remuneration will be paid in Cargotec's class B shares and the rest in cash and Cargotec will cover the transfer taxes related to the Board remuneration paid in shares.
The Annual General Meeting elected accounting firm PricewaterhouseCoopers Oy as auditors. The auditors' fees were decided to be paid according to their invoice reviewed by the company.
The Annual General Meeting authorised the Board of Directors to decide on the repurchase of Cargotec's shares with non-restricted equity. Altogether no more than 6,400,000 shares in the company may be purchased, of which no more than 952,000 are class A shares and 5,448,000 are class B shares. This authorisation shall remain in effect for a period of 18 months from the resolution by the general meeting and it will supersede the previous one.
The Annual General Meeting authorised the Board of Directors to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares referred to in chapter 10 section 1 of the Finnish Companies Act. The authorisation remains in effect for a period of five years following the date of decision of the general meeting and it will supersede the previous one.
For further information, please contact:
Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4105
Outi Aaltonen, Senior Vice President, General Counsel, tel. +358 20 777 4020
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2018 totalled approximately EUR 3.3 billion and it employs around 12,000 people. www.cargotec.com