Clariant: Sabic seeks shareholder approval of dividend

(CercleFinance.com) - Clariant's biggest shareholder, Saudi Arabia's chemicals group Sabic, plans to ask shareholders to approve a special dividend, along with a term limit for board members, the Swiss company said on Monday.


Sabic has submitted these items for approval at the shareholder meeting, which is scheduled for 7 April, the chemical group said.

Under the plan, shareholders will vote on a special dividend distribution of two Swiss francs per share, Clariant said.

They will also have to approve the introduction of a time limit of 12 years for members of the board of directors, including the chairman, it added.

Its board will address the requests when preparing the meeting and will define its position to both agenda items, the group pointed out.

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