AkzoNobel: shareholders approve special dividend, buybacks

(CercleFinance.com) - Dutch paint and coating maker AkzoNobel said on Wednesday that it has won approval from shareholders for a special cash dividend of 1 billion euros and share buybacks of 2.
5 billion euros, after the completion of the sale of its specialty chemicals business.

On Tuesday AkzoNobel shareholders backed all resolutions at the company's extraordinary general meeting, returning the vast majority of net proceeds from the sale.

When taking into account capital repayment and share consolidation, in addition to 1 billion euros in advance proceeds distributed by a special cash dividend in 2017, a total of 6.5 billion euros will have been distributed to shareholders.

Copyright (c) 2018 CercleFinance.com. All rights reserved.