Logitech Shareholders Approve Proposals, Including Increased Dividend, at Annual Ge...
September 09 2020 - 4:15PM
Business Wire
Dividend up 10% year over year; Thomas and
Cadonau elected to board of directors
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today
announced that during its annual general meeting (AGM) the
Company’s shareholders approved a dividend of approximately CHF
0.80 per share* — an increase of approximately 10% compared to the
FY 2019 dividend.
Additionally, Logitech’s shareholders elected to the board of
directors Deborah Thomas, executive vice president and chief
financial officer of Hasbro, Inc., and Riet Cadonau, chairman and
CEO of dormakaba Holding AG. Thomas will take up her mandate
immediately, and Cadonau will take up his mandate on April 1, 2021.
All incumbent nominees to the board were re-elected, and all other
proposals at the AGM were approved.
Wendy Becker, Logitech’s chairperson of the board, said: “Last
year, Logitech delivered our fifth consecutive year of near
double-digit growth or better. This consistently strong performance
has permitted a continued increase in our annual dividend. I’m also
delighted to welcome Deborah and Riet to our board. Both bring
senior leadership and strong international experience to the team,
from consumer, technology and services sectors. I look forward to
another remarkable year for Logitech.”
Logitech expects the payment date for the dividend to be
September 22, 2020. The shares are expected to be traded
ex-dividend on the SIX Swiss Exchange and the Nasdaq Global Select
Market starting on September 18, 2020. Shareholders will find more
information about the dividend on the Logitech corporate website at
http://ir.logitech.com.
About Logitech
Logitech designs products that have an everyday place in
people's lives, connecting them to the digital experiences they
care about. More than 35 years ago, Logitech started connecting
people through computers, and now it’s a multi-brand company
designing products that bring people together through music,
gaming, video, and computing. Brands of Logitech include Logitech,
Logitech G, ASTRO Gaming, Streamlabs, Ultimate Ears, Jaybird, and
Blue Microphones. Founded in 1981, and headquartered in Lausanne,
Switzerland, Logitech International is a Swiss public company
listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global
Select Market (LOGI). Find Logitech at www.logitech.com, the
company blog, or @Logitech.
This press release contains forward-looking statements within
the meaning of the U.S. federal securities laws, including, without
limitation, statements regarding the timing of dividend payments
and the Company’s fiscal year 2021. The forward-looking statements
in this release involve risks and uncertainties that could cause
Logitech’s actual results and events to differ materially from
those anticipated in these forward-looking statements, including,
without limitation: if our product offerings, marketing activities
and investment prioritization decisions do not result in the sales,
profitability or profitability growth we expect, or when we expect
it; if we fail to innovate and develop new products in a timely and
cost-effective manner for our new and existing product categories;
if we do not successfully execute on our growth opportunities or
our growth opportunities are more limited than we expect; the
effect of pricing, product, marketing and other initiatives by our
competitors, and our reaction to them, on our sales, gross margins
and profitability; if we are not able to maintain and enhance our
brands; if our products and marketing strategies fail to separate
our products from competitors’ products; the COVID-19 pandemic and
its potential impact; if we do not fully realize our goals to lower
our costs and improve our operating leverage; if there is a
deterioration of business and economic conditions in one or more of
our sales regions or product categories, or significant
fluctuations in exchange rates; changes in trade policies and
agreements and the imposition of tariffs that affect our products
or operations and our ability to mitigate; risks associated with
acquisitions; the effect of changes to our effective income tax
rates. A detailed discussion of these and other risks and
uncertainties that could cause actual results and events to differ
materially from such forward-looking statements is included in
Logitech’s periodic filings with the Securities and Exchange
Commission, including our Quarterly Report on Form 10-Q for the
fiscal quarter ended June 30, 2020 and our Annual Report on Form
10-K for the fiscal year ended March 31, 2020, available at
www.sec.gov, under the caption Risk Factors and elsewhere. Logitech
does not undertake any obligation to update any forward-looking
statements to reflect new information or events or circumstances
occurring after the date of this press release.
Logitech and other Logitech marks are trademarks or registered
trademarks of Logitech Europe S.A and/or its affiliates in the U.S.
and other countries. All other trademarks are the property of their
respective owners. For more information about Logitech and its
products, visit the company’s website at www.logitech.com.
* Based on the number of shares outstanding as of March 31,
2020. The actual number may change as of the record date.
(LOGIIR)
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Communications - USA +1 (510) 988-8553
Ben Starkie Corporate Communications - Europe +41 (0)
79-292-3499
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