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3/23/2012 4:42 AM ET

Ericsson (ERIC: Quote) said its Annual General Meeting, or AGM, of shareholders will be held on May 3, 2012.

The company stated that at the AGM, its board of directors will propose a dividend of SEK 2.50 per share. Also, continued long-term variable remuneration program consisting of an all employee stock purchase plan, a key contributor retention plan and an executive performance stock plan will be proposed by the directors.

Further, the Nomination Committee will propose Alexander Izosimov as new member of the board of directors after resigning Carl-Henric Svanberg.

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