The Board of Directors of the worldwide leader in automotive safety systems, Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), today declared a quarterly dividend of 60 cents per share for the third quarter of 2017.
The dividend will be payable on Thursday, September 7, 2017 to Autoliv stockholders of record on the close of business on Wednesday, August 23. The ex-date will be Monday, August 21 for holders of the common stock listed on the New York Stock Exchange (NYSE) and Tuesday, August 22 for holders of Swedish Depository Receipts (SDRs) listed on the NASDAQ Stockholm.
Annual Meeting of Stockholders
At the Company’s Annual General Meeting of Stockholders (AGM) held today, May 9, in Chicago, Illinois, sufficient votes were received to approve the following proposals:
- The re-election of Robert A. Alspaugh, Jan Carlson, Leif Johansson, David E. Kepler, Franz-Josef Kortüm, Xiaozhi Liu, James Ringler, Kazuhiko Sakamoto and Wolfgang Ziebart as directors of the Autoliv Board for a one-year term ending at the 2018 AGM;
- The non-binding, advisory resolution to approve the Company’s 2016 executive compensation for its named executive officers;
- The non-binding, advisory resolution to hold future advisory votes to approve the compensation of its named executive officers every one year; and
- The ratification of the appointment of Ernst & Young AB as the Company’s independent auditing firm for the fiscal year ending December 31, 2017.
Based on the outcome of the vote on the frequency of future advisory “say-on-pay” votes to approve executive compensation, the Board has determined that the Company will continue to hold such advisory “say-on-pay” votes every year until the next required frequency vote.
Committees of the Board
Effective May 9, 2017, the Board also approved changes to the membership of its committees, which are now composed as follows:
Audit Committee : Robert W. Alspaugh (Chairman), David E. Kepler and Wolfgang Ziebart
Leadership Development and Compensation Committee : James M. Ringler (Chairman), Leif Johansson and Xiaozhi Liu
Nominating and Corporate Governance Committee : Leif Johansson (Chairman), Franz-Josef Kortüm, Xiaozhi Liu, and James M. Ringler
Risk and Compliance Committee : David E. Kepler (Chairman), Robert W. Alspaugh, Kazuhiko Sakamoto and Wolfgang Ziebart
Lead Independent Director
Pursuant to the Company’s Corporate Governance Guidelines, at the same Board meeting, the independent members of the Board resolved that James Ringler serve as the Lead Independent Director of the Board as Mr. Carlson is both an officer of the Company and the Chairman of the Board.
