(Finance) – Theshareholders’ meeting Of UniCredit has approvedwith 98.72% of the share capital present and entitled to vote, the balance as at 31 December 2022 and, with 99.97% of the share capital present and entitled to vote, the destination of the profit of exercise. The unit dividend of 0.9872 euro for each share will be paid on 26 April 2023, with an “ex-dividend” date (coupon no. 7) on 24 April 2023.
The shareholders’ meeting, with 97.23% of the share capital present and entitled to vote, authorised the purchase of treasury shares for a maximum of €3,343,438,000 (operation already authorized by the ECB).
After numerous controversies and the contrary opinion of some proxy advisors, a convinced green light has arrived on the revision of the remuneration for the CEO and the employees. The shareholders’ meeting approved, with 69.10% of the share capital present and having the right to vote, the Report on the 2023 Policy on remunerationwith 71.08% adopting the Incentive System of Group 2023.
“We want to express ours satisfaction with shareholder support for all proposals submitted to their vote – commented the president Pier Carlo Padoan – and in particular for the new remuneration policy which was conceived to basically achieve two objectives: firstly, to strengthen our culture of performance and encourage excellence, secondly, to guarantee a total alignment of long-term interests between management and shareholders. We believe these principles are the best possible and reflect our ambition to be a benchmark for our industry.”
“We also wish to express our gratitude to the shareholders who studied and understood the proposals and who actively participated in the engagement activities – continued Padoan – We are particularly pleased to note that we had the highest shareholder participation for many years now and that the vast majority of positive votes come from active UniCredit shareholders who share our long-term vision”.
“We feel particularly significant to have achieved this result despite various media speculations on the issue of remuneration. This is proof of our shareholders’ commitment to recognize and appreciate the new policies for what they are, demonstrating that UniCredit’s success will be truly collective – he added – Finally, we wish to thank the chairman of the remuneration committee, Jeffrey Alan Hedberg, for his availability and professionalism in the commitment required to obtain this important result”.