May 14, 2019
Annual shareholders meeting of May 14, 2019
Edenred, the world leader in payment solutions for the working world, held its Annual Shareholders Meeting in Paris today, chaired by Chairman and Chief Executive Officer Bertrand Dumazy, and adopted all of the resolutions proposed by the Board of Directors.
Edenred, the world leader in payment solutions for the working world, held its Annual Shareholders Meeting in Paris today, chaired by Chairman and Chief Executive Officer Bertrand Dumazy, and adopted all of the resolutions proposed by the Board of Directors.
With a quorum of 73.11% and chaired by Chairman and Chief Executive Officer Bertrand Dumazy, the Annual Shareholders Meeting held in Paris approved all of the resolutions proposed by the Board of Directors including the payment of a 2018 dividend of €0.86 per share, with the option of receiving 100% of the amount in new shares*. The dividend will be payable from May 20, 2019. The reinvestment option may be exercised between May 22 and the close of business on June 5, 2019. Any shareholder who has not exercised their option by the close of this period will receive the entire dividend in cash. The dividend will be paid on June 11, 2019.
The Shareholders Meeting was an opportunity for management team to comment on the record 2018 financial results, which notably included double-digit organic operating revenue growth across all the Group’s regions and business lines. The result of the successful implementation of the Fast Forward strategic plan, this performance reflects Edenred’s strong sales momentum and ability to develop innovative solutions, in particular via its global technology platform. 2018 was also a big year for acquisitions. Thanks to its strong cash flow generation, the Group continues to provide high shareholder returns while also maintaining a level of debt enabling a “Strong Investment Grade” BBB+ rating by Standard and Poor’s.
At the Shareholders Meeting, shareholders were provided with the 2019 Integrated Report (available at www.edenred.com) detailing Edenred’s business model, which is undergoing major transformation in response to new trends in the working world. An overview of the business model during the presentation demonstrated the Group’s ability to generate profitable and sustainable growth, and to share the fruits of this growth with all of its stakeholders.
Jacques Adoue, Executive Vice President, Human Resources and Corporate Social Responsibility, and Jeanne Renard, Senior Vice President, Transformation notably presented Edenred’s outreach programs and commitment to diversity through initiatives such as the signature of France’s Diversity Charter at the beginning of 2019.
Following Jean-Bernard Hamel’s appointment by Edenred’s Works Council as employee representative director in June 2018, the Board of Directors now comprises 11 members, and is in compliance with the AFEP-MEDEF Code with regard to gender balance and director independence.
The full results of the resolution votes, as well as a summary of the meeting, will shortly be available in the Investors/Shareholders section of www.edenred.com.
*Disclaimer: The option to receive the dividend payment in shares does not constitute an offer or a solicitation to subscribe to or purchase securities in the United States within the meaning of the U.S. Securities Act of 1933, or in any other country where such transaction would be contrary to the applicable laws and regulations. The option to receive the dividend payment in shares is not available in certain countries, such as those where such an option would require registration with, or authorization from, the local securities regulator. Shareholders residing outside France should inquire about and comply with any local restrictions.
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