Dividends and remuneration of the Board of Directors and the Executive Committee have been confirmed. Shareholders also approved a reduction in capital through the cancellation of shares repurchased under ABB's share repurchase program.
ABB's shareholders have approved all proposals from the company's board of directors at the 2021 Annual General Meeting of Shareholders. Due to exceptional circumstances and in accordance with applicable Switzerland COVID-19 legislation, shareholders cannot attend meetings in person, but can exercise shareholder rights through independent proxies representing 59% of the issued share capital.
Shareholders voted 99.4% in favor of the proposed dividend distribution of 0.80 Switzerland francs per share. The Switzerland dividend plan was paid on March 31, 2021. Shareholders also approved the Management Report, Consolidated Financial Statements, and 2020 Annual Financial Statements by 99.4% of the vote.
Peter Voser was confirmed as Chairman of the Company's Board of Directors with 92.9% of the vote. With the exception of Mattie · Alahuta, who announced earlier that he would not run for re-election, all other members of the Board of Directors were re-elected: Jacob Wallenberg, Gunnar Brock, David Constable, Frederico Fleury Curado, Lars Förberg, Jennifer Xin-Zhe Li, Geraldine Matchett, David Meline and Satish Pai。
In addition, 98.4% of the capital cuts were supported by the cancellation of shares repurchased under ABB's share buyback program announced in July 2020. Shareholders also approved by a binding vote 98.4% of the Board and Executive Committee's top total compensation for the 2021-2022 fiscal year 2022. In addition, in the non-binding vote, shareholders voted in favor of the 2020 compensation report with 90.2% of the votes.
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ABB plans to initiate a buyback of new shares after the completion of the initial program
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