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Richemont Shareholders Approve FY Results, Announces Dividend

Richemont SA (CFRUY.PK) announced Wednesday that shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at March 31, 2019. This was approved at the Annual General Meeting.

The company also said a dividend of CHF 2.00 per share will be paid on the listed 'A' registered shares and a dividend of CHF 0.20 per share will be paid on the 'B' registered shares in the company. The dividend in respect of the 'A' shares will be payable on Friday, 20 September 2019, free of charges but subject to Swiss withholding tax at the rate of 35%.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

On Tuesday, Richemont announced that Eric Vallat, Head of Fashion & Accessories Maisons, will step down from his current position and from the Senior Executive Committee for personal reasons, effective October 26, 2019.

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