UBS shareholders approve all of Board of Directors’ proposals at AGM

Maria Nikolova

The shareholders approved a dividend distribution of $0.365 per share and a special dividend reserve of $0.365 per share.

UBS Group AG (SWX:UBSG) has just reported the results of the Annual General Meeting 2020. UBS shareholders approved all of the Board of Directors’ proposals at the AGM.

Virtually all shareholders (99.08%) approved the management report and the consolidated and standalone financial statements for the financial year 2019 of UBS Group AG. Shareholders also approved the Compensation Report 2019 with 84.63% in an advisory vote.

About 96% of shareholders’ votes were cast in favor of the appropriation of total profit and an ordinary dividend distribution of USD 0.365 (gross) per share in cash and the appropriation of USD 0.365 (gross) per share to a special dividend reserve. Let’s recall that this dividend plan was made in accordance with a request by the Swiss Financial Market Supervisory Authority (FINMA).

Some 94% of the votes were in favor of the discharge of the members of the Board of Directors and the Group Executive Board for the financial year 2019 (excluding all issues related to the French cross-border matter).

The Annual General Meeting confirmed the Chairman of the Board of Directors, Axel A. Weber (92.39%), and fellow Board members Jeremy Anderson (98.48%), William C. Dudley (98.76%), Reto Francioni (98.37%), Fred Hu (89.22%), Julie G. Richardson (97.70%), Beatrice Weder di Mauro (98.99%), Dieter Wemmer (98.89%) and Jeanette Wong (98.82%) for another year. Shareholders elected Mark Hughes (98.74%) and Nathalie Rachou (95.10%) as new members of the Board of Directors for a one-year term.

Furthermore, the shareholders elected Julie G. Richardson (92.85%), Reto Francioni (93.80%), Dieter Wemmer (94.04%) and Jeanette Wong (97.70%) to the Compensation Committee for a one-year term.

About 88% of the votes were cast in favor of the proposed maximum aggregate amount of compensation for the members of the Board of Directors from the Annual General Meeting 2020 to the Annual General Meeting 2021. As FinanceFeeds has reported, UBS’s Board of Directors proposes that the maximum aggregate amount of compensation of CHF 13,000,000 for the members of the Board of Directors for the period from the 2020 AGM to the 2021 AGM be approved.

Shareholders also approved the aggregate amount of variable compensation for the members of the Group Executive Board for the financial year 2019. The maximum aggregate amount of fixed compensation for the members of the Group Executive Board for the financial year 2021 was also given green light.

Finally, the shareholders approved the re-election of the independent proxy ADB Altorfer Duss & Beilstein AG, Zurich, and the auditor Ernst & Young Ltd, Basel.

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