KCS Holds Annual Meeting of Stockholders, Elects Two Directors and Announces Preferred and Common Dividends
May 08 2015 - 04:37PM
Business Wire
Kansas City Southern (KCS) (NYSE:KSU) held its Annual Meeting of
Stockholders on May 7, 2015 in Kansas City, Missouri. With over 91%
of KCS’ outstanding common and preferred stock represented in
person or by proxy at the Annual Meeting, the stockholders:
- elected Lu M. Córdova and Thomas A.
McDonnell to serve on the KCS Board of Directors until the Annual
Meeting of Stockholders in 2016;
- ratified the Audit Committee’s
selection of KPMG LLP as KCS’s independent registered public
accounting firm for the year ending December 31, 2015;
- approved an advisory vote on the 2014
compensation of the KCS named executive officers;
- rejected a stockholder proposal to
reduce the ownership percentage needed to call a special
stockholder meeting.
“We are pleased that Lu Cordova and Tom McDonnell were
re-elected to the Board,” stated Robert J. Druten, Chairman of the
Board. “Their leadership and service on the Board are very
important and valuable to the Company.”
“The Board of Directors appreciates our stockholders supporting
the Board’s opposition of this stockholder proposal,” continued
Druten. “In recognition of the strong corporate governance
practices already in place, the Board believed that the stockholder
proposal was not in the best interests of the Company and is happy
to see that our stockholders agreed with that decision.”
In addition, at their meeting today, the Board of Directors
declared a regular dividend of $0.25 per share on the outstanding
KCS 4% Non-Cumulative Preferred stock. This dividend is payable on
July 7, 2015, to stockholders of record at the close of business on
June 8, 2015.
The Board of Directors also declared a regular dividend of $0.33
per share on the outstanding KCS common stock. This dividend is
payable on July 8, 2015, to stockholders of record at the close of
business on June 8, 2015.
Headquartered in Kansas City, MO, Kansas City Southern is a
transportation holding company that has railroad investments in the
U.S., Mexico and Panama. Its primary U.S. holding is The Kansas
City Southern Railway Company, serving the central and south
central U.S. Its international holdings include Kansas City
Southern de Mexico, S.A. de C.V., serving northeastern and central
Mexico and the port cities of Lázaro Cárdenas, Tampico and
Veracruz, and a 50 percent interest in Panama Canal Railway
Company, providing ocean-to-ocean freight and passenger service
along the Panama Canal. Kansas City Southern's North American rail
holdings and strategic alliances are primary components of a NAFTA
Railway system, linking the commercial and industrial centers of
the U.S., Mexico and Canada.
Kansas City SouthernWilliam H. Galligan,
816-983-1551bgalligan@kcsouthern.com
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