STMicroelectronics to distribute Quarterly Dividend Annually

STMicroelectronics has announced that its Supervisory Board has approved the Managing Board’s proposal of the forthcoming 2013 Annual General Meeting (AGM) of Shareholders to report on the distribution of cash dividend of US$0.10 for both second quarter and third quarter, per outstanding share of the company’s common stock to be paid in June and September of 2013, respectively.

The proposed amount of cash dividend will remain stable with respect to previous quarterly dividend distribution.
 
Furthermore, the quarterly dividend has been decided by the company to be distributed semi-annually instead of annually. As expected, this change will bring greater flexibility to STMicroelectronics to achieve its goal of using available cash to enhance its position in the market as well as manage its cash resources to continue to reward its shareholders for their trust in the Company.
 
In another announcement, it has been confirmed by ST that the fourth quarter 2013 and first quarter 2014 dividends will be decided at a Shareholders’ Meeting to be held during the fourth quarter of 2013.