Tyco Shareholders Approve Proposals at Annual General Meeting Including a 7 Percent Increase to the Annual Dividend
SCHAFFHAUSEN, Switzerland, March 6, 2013 /PRNewswire/ -- Tyco (NYSE: TYC) announced today that its shareholders approved all proposals presented at the company's Annual General Meeting, including the reelection of all ten nominees to the Board of Directors to additional one year terms.
Shareholders approved an annual dividend of $0.64 per share, representing an approximate 7 percent increase over the current $0.60 annual dividend. Payment of the dividend is to be made in four quarterly installments of $0.16 from May 2013 through February 2014. Shareholders also approved proposals to reappoint the company's auditors, renew the company's authorized share capital, and reduce its registered share capital. In addition, a supermajority of shareholders endorsed the company's executive compensation practices by voting in favor of the advisory "say-on-pay" proposal.
Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in revenue, Tyco has more than 70,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit the new www.tyco.com.