Analysis
STMicroelectronics To Resolve on Distribution of a Cash Dividend
STMicroelectronics has announced that its Supervisory Board has approved the Managing Board proposal to the forthcoming 2013 Annual General Meeting of Shareholders to resolve on the distribution of a cash dividend of US$0.10 for the second quarter, and of US$0.10 for the third quarter, per outstanding share of the Company’s common stock to be paid in June and September of 2013, respectively.
The Furthermore, while ST’s dividend distribution is currently decided on an annual basis by the AGM, upon the proposal of the Supervisory Board, and associated payments are made in four equal quarterly installments, the quarterly dividend distribution will be decided semi-annually instead of annually.
This change will better align to the industry practice, bringing greater flexibility to ST to achieve its goal of using available cash to enhance its position in the market, while at the same time managing its cash resources to continue to reward its shareholders for their trust in the Company.
The fourth quarter 2013 and first quarter 2014 dividends will be decided at a Shareholders Meeting to be held during the fourth quarter of 2013.
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