Logitech Shareholders Approve Proposals, Including Increased Dividend, at Annual General Meeting, After Strong Year
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.
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 .
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