Logitech Shareholders Approve Proposals, Including Increased Dividend, at Annual General Meeting, After Strong Year
September 07 2016 - 5:00PM
Business Wire
Dividend up 10 percent year over year; EPFL
President Patrick Aebischer elected to Logitech’s Board of
Directors
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today
announced, at its annual general meeting, that the Company’s
shareholders approved a dividend of approximately CHF 0.56 per
share1, approximately a 10 percent increase compared to last year.
This follows a year of strong performance and cash generation.
Additionally, at the meeting, Logitech’s shareholders elected to
the board of directors Patrick Aebischer, president of the École
polytechnique fédérale de Lausanne (EPFL). As expected,
long-standing director, Kee Lock Chua, retired from the board,
having decided not to stand for re-election.
All other incumbent members of the board who stood for
re-election were re-elected, and all other proposals at the AGM
were approved.
Guerrino De Luca, Logitech’s chairman of the board, said: “It’s
a real pleasure for Logitech to offer an increased dividend to our
shareholders following another year of strong cash generation. The
dividend is part of our broader approach to returning value to
shareholders through dividends and share buyback. I’m also very
pleased to welcome Patrick Aebischer to our board of directors. His
multi-disciplinary background as an academic, business leader and
entrepreneur brings an invaluable global and strategic perspective
to the board.”
Logitech expects the payment date for the dividend to be Sept.
27, 2016. The shares are expected to be traded ex-dividend on the
Nasdaq Global Select Market starting on Sept. 22 and on the SIX
Swiss Exchange on Sept. 23. Given the unaligned ex-dividend dates
resulting from Logitech's dual listing, Nasdaq has informed the
Company that it will temporarily halt trading in Logitech shares on
its platform on Sept. 22, 2016, from the start of the trading
session on the Nasdaq market until approximately the close of the
trading session on the SIX Swiss Exchange at 11:30 a.m. Eastern
Daylight Time. Shareholders will find more information about the
dividend on the Logitech corporate website at
http://ir.logitech.com.
1 Based on the number of shares outstanding as of March 31,
2016. The actual number may change as of the record date.
About Logitech
Logitech designs products that have an everyday place in
people's lives, connecting them to the digital experiences they
care about. Over 30 years ago Logitech started connecting
people through computers, and now it’s designing products that
bring people together through music, gaming, video and
computing. Founded in 1981, Logitech International is a
Swiss public company listed on the SIX Swiss Exchange (LOGN)
and on the Nasdaq Global Select Market (LOGI). Find Logitech
at www.logitech.com, the company blog or @Logitech.
2016 Logitech, Logicool, Logi and other Logitech marks are owned
by Logitech and may be registered. All other trademarks are the
property of their respective owners. For more information about
Logitech and its products, visit the company’s website at
www.logitech.com.
(LOGIIR)
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Logitech InternationalBen LuVice President, Investor Relations -
USA510-713-5568orKrista ToddVice President, External Communications
- USA510-713-5834orBen StarkieCorporate Communications - Europe+41
(0) 79-292-3499
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