The Annual Shareholders' Meeting of Accor was held on April, 29, 2014 in Paris. The meeting was chaired by Sébastien Bazin, Chairman and CEO, and holders of 72.33% of the shares were present or represented by proxy. All of the resolutions were adopted.
During the Meeting, Sébastien Bazin presented to the shareholders the Group’s new strategy, which aims to redefine its business model around two strategic businesses – hotel operator and brand franchisor HotelServices and hotel owner and investor HotelInvest.
Sébastien Bazin also commented on Accor’s solid full year results and highlighted the growth achieved in 2013.
Sophie Stabile, Global Chief Financial Officer, underlined the good financial performance of the Group in 2013, in particular the levels of Ebit (€536m) and Free Cash Flow (€548m) and commented on the 2014 first quarter activity.
The Shareholders' Meeting decided to pay a dividend of €0.80 per share, with each shareholder given the option of reinvesting 50% of the dividend in shares with a 10% discount.
The shares traded ex-dividend from May 9, 2014 and the dividend was paid on June 4, 2014. The dividend reinvestment option was exercisable from May 9 to the close of business on May 23, 2014. If the option was not exercised during this period, the total dividend was paid in cash.
The shares allotted in payment of dividends will be issued at a price of €31.73, corresponding to 90% of the average of the opening prices quoted for Accor shares over the twenty trading days preceding the Shareholders’ Meeting, less the amount of the dividend. The shares allotted in payment of dividends will carry dividend rights from January 1, 2014.
In addition, shareholders re-elected Iris Knobloch, Virginie Morgo and Sébastien Bazin as directors for a three-year term, and elected Jonathan Grunzweig as a director.