ESPOO (dpa-AFX) - Nokia Corp. (NOK) said that its board proposed to the Annual General Meeting, which is to be held on June 17, 2014, that an ordinary dividend of 0.11 euros per share be paid for the fiscal year 2013. In addition the Board proposed that in line with the capital structure optimization program decided by the Board a special dividend of 0.26 euros per share be paid. The ex-dividend date would be June 18, 2014, the record date June 23, 2014 and the payment date on or about July 3, 2014.
As to the Board remuneration, the Corporate Governance and Nomination Committee proposes that the annual fee payable to the Board members elected at the Annual General Meeting on June 17, 2014 for a term ending at the Annual General Meeting in 2015, remains at the same level as during the past six years as follows: EUR 440 000 for the Chairman, EUR 150 000 for the Vice Chairman, and EUR 130 000 for each member; EUR 25 000 for the Chairman of the Audit Committee and the Chairman of the Personnel Committee as an additional annual fee; and EUR 10 000 for each member of the Audit Committee as an additional annual fee.
The Board proposes that the Annual General Meeting authorizes the Board to resolve to repurchase a maximum of 370 million Nokia shares. The authorization would be effective until December 17, 2015 and terminate the current authorization granted by the Annual General Meeting on May 7, 2013. The Nokia Board plans to commence the repurchases following the publication of the Company's interim report for the second quarter of 2014.
The Board also proposes that the Annual General Meeting authorize the Board to resolve to issue a maximum of 740 million shares through issuance of shares or special rights entitling to shares in one or more issues. The proposed authorization includes the right for the Board to resolve on all the terms and conditions of the issuance of shares and special rights entitling to shares, including issuance in deviation from the shareholders' pre-emptive rights. The authorization would be effective until December 17, 2015 and terminate the current authorization granted by the Annual General Meeting on May 7, 2013. This is a change from Nokia's previous practice in which the share issuance authorization was soughtfor the Board for a three-year period.
Henning Kagermann and Helge Lund have informed that they will no longer be available for re-election to the Nokia Board of Directors after the Annual General Meeting. Mr. Kagermann has been a Nokia Board member since 2007 and Mr.Lund since 2011.
The Board's Corporate Governance and Nomination Committee proposes to the Annual General Meeting that the number of Board members be nine (9) and that the following current Nokia Board members be re-elected as members of the Nokia Board of Directors for a term ending at the Annual General Meeting in 2015: Bruce Brown, Elizabeth Doherty, Jouko Karvinen, M?rten Mickos, Elizabeth Nelson, Risto Siilasmaa and Kari Stadigh.
In addition, the Committee proposes that Vivek Badrinath, Deputy CEO of Accor, and Dennis Strigl, Retired CEO of Verizon Wireless and Author and Consultant, be elected as members of the Nokia Board of Directors for the same term.
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