CLICHY (dpa-AFX) - Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK) said that the Annual General Meeting adopted all the proposed resolutions
The Meeting approved the parent company financial statements and the consolidated financial statements for 2017; decided on the distribution of a dividend of 3.55 euros per share. This dividend is increased to 3.90 euros for shares that have been continuously registered for at least two years. Dividend payment date: Friday 27 April 2018;
The Meeting appointed two new Directors, Patrice Caine and Axel Dumas for a four-year term;renewed the tenure as Directors of Jean-Paul Agon and Mrs Belén Garijo, for a four-year term.
The Board of Directors' meeting, held at the close of the Annual General Meeting was informed of the renewal for four years of the tenure as employee director of Mrs Ana Sofia Amaral and of Mr Georges Liarokapis, appointed respectively by the Instance Européenne de Dialogue Social (European Works Council) and by the CFE-CGC, the most representative trade union organisation at L'Oréal in France.
Moreover, the Board of Directors has decided, under the authorisation voted by the Annual General Meeting of 20 April 2017, to set up a share buyback programme amounting to a maximum of 500 million euros during the second quarter of 2018. All the shares bought back will be cancelled.
Copyright RTT News/dpa-AFX