The ordinary and extraordinary shareholders' meeting of Hera met in Bologna this morning. Among the various resolutions passed, the shareholders' meeting proceeded to approve some amendments to the Articles of Association. The 2014 economic and sustainability reports and the consequent distribution of 9 cents dividend per share.
In particular, the Hera shareholders' meeting approved the modification of article 7 of the Statute which consists in the elimination of the minimum percentage of 51% of the company's capital which must be owned by public shareholders. However, in the same article, the was introduced to guarantee the maintenance of public scrutiny prevalence of voting rights owned by public shareholders, through multiple voting.
Therefore, since Hera is a "company with mainly public capital", despite the elimination of the minimum percentage of 51%, there will be no changes in the governance of the company, also in relation to the confirmed maintenance of the statutory constraints previously envisaged for the limit on the ownership of individual private shareholders.
Hera then approved i economic and sustainability reports for 2014, together with the Board of Directors' proposal to distribute a dividend of 9 cents per share (confirmed with respect to last year), due to economic results which showed, as at 31/12/2014, revenues of 4.189,1 million euro, a gross operating margin of 867,8 million euro and a attributable net profit of 164,8 million. The coupon detachment will take place on 22 June, with payment starting from 24 June 2015. The dividend paid, based on the Hera share price on 31/12/2014, corresponds to an annual yield of approximately 4,6%.
