German building materials giant HeidelbergCement held its 131st Annual General Meeting on Thursday 4 June - attracting significantly higher shareholder interest than usual. Due to the COVID-19 pandemic, the company held a purely virtual meeting of shareholders. The AGM approved all items on the agenda.
Overall around 1,000 people followed the live transmission of the event on the internet. Before the AGM shareholders submitted a record 120 questions (previous year: 36 questions), all questions were answered in detail. At the time of voting, around 143.5 million shares were represented, which corresponds to 72.3% of the approximately 198.4 million shares issued.
For the 2019 financial year, HeidelbergCement shareholders will receive a dividend of €0.60 per share (previous year: € 2.10). The total distribution to shareholders, thus amounts to around €119 million. The dividend will be paid on 9 June 2020.
Given the scope and extent of the coronavirus crisis and the still high level of uncertainty regarding future developments, HeidelbergCement has suspended its progressive dividend policy for the time being to maintain the Group’s good financial profile. HeidelbergCement reaffirmed its fundamental position of returning to its previous dividend policy once the COVID-19 crisis has been overcome, with a dividend that will at least remain constant or rise in the medium term to approximately 40% concerning the Group’s share of profit.
The AGM expressed its confidence in the members of the Supervisory Board and Managing Board of HeidelbergCement AG for the 2019 financial year by a large majority and discharged them. The authorised capitals that expired in May 2020 were renewed for five years. Furthermore, PricewaterhouseCoopers (PWC) GmbH Wirtschaftsprüfungsgesellschaft was appointed as the auditor for the 2020 financial year.
The voting results in detail can be viewed at www.heidelbergcement.com/en/annual-general-meeting-2020.
