Dividend up 10 percent year over year; EPFL President Patrick
Aebischer elected to Logitech’s Board of Directors
NEWARK, Calif. & LAUSANNE, Switzerland--(BUSINESS WIRE)--
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced, at
its annual general meeting, that the Company’s shareholders approved a
dividend of approximately CHF 0.56 per share1, approximately
a 10 percent increase compared to last year. This follows a year of
strong performance and cash generation.
Additionally, at the meeting, Logitech’s shareholders elected to the
board of directors Patrick Aebischer, president of the École
polytechnique fédérale de Lausanne (EPFL). As expected, long-standing
director, Kee Lock Chua, retired from the board, having decided not to
stand for re-election.
All other incumbent members of the board who stood for re-election were
re-elected, and all other proposals at the AGM were approved.
Guerrino De Luca, Logitech’s chairman of the board, said: “It’s a real
pleasure for Logitech to offer an increased dividend to our shareholders
following another year of strong cash generation. The dividend is part
of our broader approach to returning value to shareholders through
dividends and share buyback. I’m also very pleased to welcome Patrick
Aebischer to our board of directors. His multi-disciplinary background
as an academic, business leader and entrepreneur brings an invaluable
global and strategic perspective to the board.”
Logitech expects the payment date for the dividend to be Sept. 27, 2016.
The shares are expected to be traded ex-dividend on the Nasdaq Global
Select Market starting on Sept. 22 and on the SIX Swiss Exchange on
Sept. 23. Given the unaligned ex-dividend dates resulting from
Logitech's dual listing, Nasdaq has informed the Company that it will
temporarily halt trading in Logitech shares on its platform on Sept. 22,
2016, from the start of the trading session on the Nasdaq market until
approximately the close of the trading session on the SIX Swiss Exchange
at 11:30 a.m. Eastern Daylight Time. Shareholders will find more
information about the dividend on the Logitech corporate website at http://ir.logitech.com.
1 Based on the number of shares outstanding as of March 31,
2016. The actual number may change as of the record date.
About Logitech
Logitech designs products that have an everyday place in people's lives,
connecting them to the digital experiences they care about. Over 30
years ago Logitech started connecting people through computers, and now
it’s designing products that bring people together through music,
gaming, video and computing. Founded in 1981, Logitech International is
a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on
the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com,
the company
blog or @Logitech.
2016 Logitech, Logicool, Logi and other Logitech marks are owned by
Logitech and may be registered. All other trademarks are the property of
their respective owners. For more information about Logitech and its
products, visit the company’s website at www.logitech.com.
(LOGIIR)
View source version on businesswire.com: http://www.businesswire.com/news/home/20160907006740/en/
Source: Logitech International