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HeidelbergCement holds virtual Annual General Meeting

Published by , Deputy Editor
World Cement,

HeidelbergCement held its 131st Annual General Meeting on 04 June. The company made use of the opportunities provided by the legislator in view of the coronavirus pandemic to hold a purely virtual meeting of shareholders. The Annual General Meeting approved all items on the agenda.

Overall around 1000 people followed the live transmission of the event on the internet. Prior to the Annual General Meeting shareholders submitted a record 120 questions (previous year: 36 questions). All questions were answered in detail. At the time of voting, around 143.5 million shares were represented, which corresponds to 72.3% of the approximately 198.4 million shares issued.

For the 2019 financial year, HeidelbergCement shareholders will receive a dividend of €0.60 per share (previous year: €2.10). The total distribution to shareholders thus amounts to around €119 million. The dividend will be paid on 09 June 2020. In view of the scope and extent of the corona crisis and the still high level of uncertainty regarding future developments, HeidelbergCement has suspended its progressive dividend policy for the time being in order to maintain the group's good financial profile. HeidelbergCement reaffirms its fundamental position of returning to its previous dividend policy once the corona crisis has been overcome, with a dividend that will at least remain constant or rise in the medium term to approximately 40% in relation to the group's share of profit.

The Annual General Meeting expressed its confidence in the members of the Supervisory Board and Managing Board of HeidelbergCement AG for the 2019 financial year by a large majority and discharged them. The authorised capitals that expired in May 2020 were renewed for five years. Furthermore, PricewaterhouseCoopers (PWC) GmbH Wirtschaftsprüfungsgesellschaft was appointed as the auditor for the 2020 financial year.

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