AstraZeneca announces dividend hike ahead of CEO pay vote
AstraZeneca announces dividend hike ahead of CEO pay vote
April 11 (Reuters) – Drugmaker AstraZeneca plans to raise its annual dividend by 7% for 2024, it said on Thursday, ahead of a shareholder vote on a hefty boost to its Chief Executive’s pay package.
The No.2 London-listed company by market value said it will pay a dividend of $3.10 per share this year, taking into account other capital allocation priorities as well as previously announced acquisitions and business development.
Shareholders, meanwhile, are preparing to vote at the annual general meeting on a policy that could raise CEO Pascal Soriot’s pay package by 1.8 million pounds ($2.26 million) to a maximum of 18.9 million pounds in 2024.
Influential proxy advisers Glass Lewis and ISS have urged shareholders to vote against the policy, according to reports.
“This uplift is in line with our progressive dividend policy, which remains unchanged, and reflects the continuing strength of AstraZeneca’s investment proposition for shareholders,” Chair Michel Demare said in a statement.
Reuters