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Nestlé. Budget and 2022 dividend approved

28th consecutive increase with 3.01 euros per share, 15 cents more on 2021

Nestlé shareholders approved all board proposals at the 156th Annual general meeting held yesterday in Lausanne. Among the practices approved were the election to the board of directors of Rainer Blair, chairman and ceo of Danaher Corporation, a global science and technology company, and Marie-Gabrielle Ineichen-Fleisch, former secretary of state and director of the Swiss State Secretariat for Economic Affairs.

The 1,257 shareholders attended the event in person, representing 58.5 percent of the capital and 79.9% of the voting shares. At the meeting, the annual review and the 2022 budget were approved, which, as anticipated, closed with sales at over 94.6 billion Euros, up 8.3 percent from 2021, and operating profit at 16.14 billion Euros.

The meeting proposed a dividend of 2.95 francs (equal to 3.01 Euros) per share: the dividend represents an increase of 15 cents over the previous year and marks 28 consecutive years of growth. Capital reduction also approved. 

Shareholders also approved budgets for the total compensation of Nestlé's board of directors and executive management, as well as the revision of the Articles of Incorporation: Ernst & Young was re-elected statutory auditor for fiscal year 2023. 

The chairman and all other board members were re-elected for a term until the end of the next annual general meeting.

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EFA News - European Food Agency