Wärtsilä’s Annual General Meeting approved the financial statements and discharged the members of the Board of Directors and the company’s President & CEO from liability for the financial year 2008. The Meeting approved the Board of Directors’ proposal to pay a dividend of EUR 1.50 per share. The dividend will be paid to shareholders who are recorded in the company’s shareholder register maintained by the Finnish Central Securities Depository Ltd. The record date is March 16, 2009. The dividend will be paid on March 23, 2009.
The Annual General Meeting approved the following fees to the members of the Board of Directors:
- To the ordinary members EUR 55,000/year
- To the deputy chairman EUR 82,500/year
- To the chairman EUR 110,000/year
In addition, each member will be paid EUR 400/meeting attended, the chairman’s meeting fee being double this amount. Roughly 40% of the annual fee is paid in Wärtsilä shares.
Board of Directors and Auditor
The Annual General Meeting decided that the Board of Directors shall have six members. The following were elected to the Board: Ms Maarit Aarni-Sirviö, Mr Kaj-Gustaf Bergh, Mr Kari Kauniskangas, Mr Antti Lagerroos, Mr Bertel Langenskiöld and Mr Matti Vuoria.
It was decided to pay the auditors’ fees as invoiced. The firm of public auditors KPMG Oy Ab were appointed as the company’s auditors.
The decisions were taken without voting.
BOARD OF DIRECTORS’ PROPOSAL FOR DIVIDEND DISTRIBUTION APPROVED BY THE AGM ON MARCH 11, 2009
Proposal of the board for the dividend
The parent company’s distributable funds total 415,185,892.59 euros, which includes 246,281,834.83 euros in net profit for the year. There are 98,620,565 shares with dividend rights.
The Board of Directors proposes to the Annual General Meeting that the company’s distributable earnings be disposed of in the following way:
a dividend of EUR 1.50 per share be paid, making a total of 147,930,847.50
that the following sum be retained in shareholders’ equity 267,255,045.09
No significant changes have taken place in the company’s financial position since the end of the financial year. The company’s liquidity is good and in the opinion of the Board of Directors the proposed dividend will not put the company’s solvency at risk.
Helsinki, Finland, 29 January 2009
Board of Directors
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