Pirelli Pays 2 – 3 cent Dividend
The general meeting of Pirelli & Co has approved the distribution of a shareholder dividend of 0.0210 euros per ordinary share and 0.0364 euros per savings share.
Dividends will be paid to approximately 5,178 million ordinary shares including approximately 1,518 million ordinary shares coming from the capital increase completed on March 2005. This compares with approximately 3,324 million shares last year. The dividend will also be paid to 135 million savings shares. In total the company will pay out around 113 million euros in dividends, a figure that has grown 4 per cent. The payment is scheduled for 26 May 2005.
The shareholder’s meeting also decided that the board of directors should remain in office for three years, until the approval of financial statements on 31 December 2007. The meeting also confirmed that PriceWaterHouseCoopers would act as auditors for the 2005-2007 three-year period.
At the same time, Leopoldo Pirelli was confirmed as company honorary chairman.
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