At today's Annual General Meeting, shareholders of Akzo Nobel N.V. (AkzoNobel) adopted the company's 2008 financial statements and approved the dividend for the 2008 financial year at €1.80 (2007: €1.80) per common share.
This results in a dividend payment of €417 million, representing a payout ratio of 48 percent relative to net income before incidentals and fair value adjustments related to the ICI acquisition. An interim dividend of €0.40 was paid in November 2008, which means the final dividend will be €1.40 per share.
The final dividend will be made payable from May 7, 2009, and AkzoNobel shares will be traded ex-final dividend on Euronext Amsterdam from April 29, 2009. Record date is May 4, 2009.
Changes to the Supervisory Board
Following the resignation of former Chairman of the Supervisory Board, Mr. Maarten van den Bergh, on medical grounds, shareholders approved the proposal to reduce the number of Supervisory Board members from nine to eight.
Changes in the Board of Management
Also at today's meeting, Mr. Tex Gunning, formerly Managing Director of AkzoNobel Decorative Paints, was officially appointed to the Board of Management and will be the Board member responsible for Decorative Paints.
Long-term incentives
Shareholders today approved linking 50 percent of the long-term incentive program for the Board of Management to the company's ranking on the Dow Jones Sustainability Indexes.
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AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - 2008 revenue totaled €15.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).
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Akzo Nobel nv
Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7856
Contact: Tim van der Zanden Contact: Huib Wurfbain, Ivar Smits
