Accor
July 2016
  • Accor

2016 Annual General Meeting

During the Annual Shareholders' Meeting on April 22, 2016, all of the resolutions were adopted.

It decided the payment of a €1.00 dividend per share, with each shareholder given the option of reinvesting 50% of the dividend in shares with a 5% discount.

REPORT

The Annual Shareholders' Meeting of AccorHotels was held on April 22, 2016 in Paris. The meeting was chaired by Sébastien Bazin, Chairman and CEO. Holders of 65.95% of the shares were present or represented by proxy. All of the resolutions were adopted.

During the Meeting, Sébastien Bazin presented the Group’s strategy to the shareholders and highlighted the growth achieved in 2015.

Jean-Jacques Morin, Chief Financial Officer, underlined the record financial performance of the Group in 2015, in particular the levels of Ebit (€665m) and Free Cash Flow (€341m), and commented on the first quarter 2016 activity.

The Shareholders' Meeting decided the payment of a €1.00 dividend per share, with each shareholder given the option of reinvesting 50% of the dividend in shares with a 5% discount. 

The shares traded ex-dividend from April 27, 2016 and the dividend was paid on May 18, 2016. The dividend reinvestment option was exercisable from April 27 to the close of business on May 10, 2016. If the option was exercised during this period, the total dividend was paid in cash.

The shares allotted in payment of dividends were issued at a price of €34.73, corresponding to 95% of the average of the opening prices quoted for AccorHotels' shares over the twenty trading days preceding the Shareholders’ Meeting, less the amount of the dividend. The shares allotted in payment of dividends carry dividend rights from January 1, 2016. 

In addition, shareholders re-elected Sophie Gasperment, Patrick Sayer and Nadra Moussalem as directors for a three-year term.