Novartis shareholders approve all resolutions proposed by Board of Directors at the Annual General Meeting
Shareholders approve 20th consecutive dividend increase to CHF 2.75 (+2%) per share for 2016; representing a 3.5% yield and approximately 69% payout of free cash flow - Dr. Joerg Reinhardt confirmed by shareholders as Chairman of the Novartis Board of Directors as well as all other members who have stood for re-election; Frans van Houten elected as new member of the Board - Shareholders approve all other proposals of the Board of Directors, including future Board and Executive Committee compensation - Novartis shareholders today agreed to the Board of Directors' recommendations for all proposed resolutions at the Group's Annual General Meeting (AGM). A total of 1,805 shareholders were present at the meeting held in Basel, representing approximately 60,6% of the issued shares of Novartis. Shareholders approved the 20th consecutive dividend increase per share since the creation of Novartis in 1996, with an increase of 2% to CHF 2.75 for 2016. Payment for the 2016 dividend will be made on March 6, 2017. The dividend for 2016 is an approximately 69% payout of free cash flow, reinforcing the Company's commitment to a strong dividend yield. Annual re-election and election of Members of the Board - Shareholders re-elected Dr. Joerg Reinhardt as Chairman of the Board of Directors, and all members of the Board, for one year. In addition, shareholders elected Frans van Houten as a new member of the Board of Directors.
