ARNHEM, Netherlands, April 24, 2002 (PRIMEZONE) -- Akzo Nobel N.V. shareholders today approved the 2001 dividend proposal from the Board of Management.
Akzo Nobel will pay a dividend of EUR 1.20 (2000: EUR 1.20) per common share for the year 2001. Of this dividend, EUR 0.30 per share was already paid as an interim dividend last November. The final dividend will thus be EUR 0.90 per share. The result is a dividend payment of EUR 343 million, a payout ratio of 37% relative to net income excluding extraordinary and nonrecurring items.
This final dividend will be made payable from May 8, 2002. The Akzo Nobel shares will be traded ex final dividend on Euronext Amsterdam on April 26, 2002.
Changes in the Supervisory Board
At today's meeting shareholders approved the proposal to raise membership of the Supervisory Board from nine to ten and the proposal that Alain Merieux (63), presently President of the bioMerieux Company, France, and Karel Vuursteen (60), presently Chairman of the Executive Board of Heineken N.V., will join the Supervisory Board effective May 1, 2002.
L. Paul Bremer, III (60) and Maarten C. van Veen (67), who stepped down from the Supervisory Board as their terms of office are expiring, were both reappointed.
Lo C. van Wachem (70), who has served on the Supervisory Board for ten years, has stepped down, having reached retirement age. At the Meeting the Chairman of the Supervisory Board, Aarnout A. Loudon, expressed the Company's deep appreciation to Mr. Van Wachem for the outstanding manner in which he has served Akzo Nobel over the years.
Changes in the Board of Management
To ensure continuity in the Management of the Company, the shareholders at today's meeting approved several proposals for changes in the Board of Management.
Toon (A.) Wilderbeek (52), currently General Manager of Akzo Nobel's veterinary business unit Intervet was appointed as successor to Paul K. Brons (61) who will retire as of July 1, 2002.
Hans (G.J.) Wijers (51), currently Senior Vice President of the Boston Consulting Group and Chairman of the Dutch Office, was appointed by the meeting to join the Board of Management on October 1, 2002; he will succeed Cees J.A. van Lede (59) as Chairman, effective May 1, 2003. Mr. Wijers will act as adviser to the Board of Management, starting July 1, 2002.
During the meeting Mr. Loudon expressed the Company's great indebtedness to Mr. Brons for his thirty-seven years of excellent service to Akzo Nobel.
Note for the editor
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2001 totaled EUR 14 billion. The Company currently employs over 66,000 people in 80 countries. Financial results for the second quarter will be published on July 24, 2002.
Internet: www.akzonobel.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/04/24/20020424BIT01370/wkr0001.doc
http://www.waymaker.net/bitonline/2002/04/24/20020424BIT01370/wkr0002.pdf