The Annual General Meeting of Shareholders (AGM), held on 27 March 2012, adopted the 2011 financial statements and determined the dividend due to holders of ordinary shares for the 2011 financial year at €1.80 per share.
After deduction of the interim dividend of €0.50, which was paid out in August 2011, the final dividend amounts to €1.30 per ordinary share.
The final dividend can be paid out either in cash, after deduction of 15% dividend withholding tax, or in ordinary shares, which will be charged to the share premium reserve, not subject to dividend withholding tax. The ex-dividend date is 29 March 2012.
During the meeting CEO Wout Dekker presented the strategy 'Ambition 2016 - driving sustainable growth', confirming the ambition to sustainably grow EBITA to €400 million in 2016.
Nutreco's ambition for 2016 builds on the existing strategy to grow and improve profitability by innovative and sustainable feed solutions for our customers.
According to Dekker this is to be achieved by focusing on Premix, Feed Specialties and Fish Feed and by expanding into the growth geographies of Latin America, Russia, China and Southeast Asia.
"Our focus on strategy, priorities and execution, coupled with our excellent results in 2011 and our strong balance sheet, have prepared Nutreco for sustainable growth in the years ahead,” Dekker stated.
“Nutreco invests in growth by acquisitions and in organic growth, both in the Animal Nutrition and the Aquaculture division. The year 2012 has started with a strong momentum across our portfolio and Nutreco will confidently hold to its Ambition 2016 strategy and grow to €400 million EBITA in 2016."
Furthermore the AGM adopted the following resolutions:
- To release from liability the members of the Executive Board and the Supervisory Board for their management respectively their supervision insofar as apparent from the financial statements;
- The appointment of KPMG Accountants N.V. as auditor for the 2013 financial statements;
- To amend the Company's Articles of Association, deleting the references in the articles to the Cumulative Preference Shares 'A', plus other amendments relating to changes in legislation, flexibilisation and a few textual changes;
- To extend for a period of 18 months the designation of the Executive Board as the corporate body authorised to issue ordinary shares and to grant rights to subscribe for ordinary shares. The authorisation will be limited to 10% of the issued ordinary shares as at the time of this authorisation, which percentage will be increased to 20% in case of mergers and acquisitions;
- To designate for a period of 18 months the Executive Board as the corporate body authorised to restrict or to exclude pre-emption rights entitled to the shareholders;
- To authorise for a period of 18 months the Executive Board to buy back the Company's own ordinary shares, other than without financial consideration, representing a maximum of 10% of the Company's issued share capital.
On 19 April 2012 Nutreco will present its trading update for the first quarter of 2012.