The Annual Shareholders’ Meeting of Siemens AG has approved the current compensation system for the Managing Board as well as a new compensation system for the Supervisory Board. The shareholders have also ratified the acts of the Managing and Supervisory Boards for fiscal 2010. As recommended by the Managing and Supervisory Boards, the Annual Shareholders’ Meeting has approved a dividend of €2.70 per share. The proposals regarding these agenda items were approved by large majorities.
Despite of wintery road conditions, this year’s Annual Shareholders’ Meeting of Siemens AG was again well attended. Roughly 8,000 shareholders attended the event in the Munich Olympiahalle on Tuesday, compared with some 8,200 last year. A total of about 44 percent of Siemens AG’s capital stock was represented at this year’s meeting.
Siemens held its Annual Shareholders' Meeting at the Olympia Hall in Munich on January 25, 2011.
We released our first quarter results for fiscal 2011 on January 25, 2011. The press conference was broadcast live on the internet.
Major winter sports events are lined up worldwide. As growing numbers of cities and regions get in shape for world-class winter events, experts estimate that over €15 billion will be invested in new and existing infrastructure in winter sports areas by 2020. Organizers are increasingly considering environmental aspects in their planning. “Our solutions make us the ideal partner for winter sports areas. We support them with the management of major projects, including providing our expertise for sustainable urban development as well as our green technologies for the ski slopes,” said Siemens President and CEO Peter Löscher.
Siemens is off to a good start in the new fiscal year 2011. The company expects a strong increase in new orders in the first quarter of the year, compared to the comparable period in fiscal 2010. Revenue will also probably increase substantially year-over-year. Income from continuing operations in the first quarter is expected to exceed the prior-year level. “We’re off to a good start and are fully on track to reach our targets,” stated Siemens CFO Joe Kaeser at an investor conference in New York on Monday.