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- Stock Exchange Release
- 13.03.2008 14:00 CET
RESOLUTIONS PASSED AT YIT CORPORATION'S ANNUAL GENERAL MEETING
CORPORATE RELEASE 13 March, 2008 at 15:00
RESOLUTIONS PASSED AT YIT CORPORATION'S ANNUAL GENERAL MEETING
YIT Corporation's Annual General Meeting, which was held today, adopted the 2007 financial statements and discharged the members of the Board of Directors and the President and CEO from liability. The Annual General Meeting decided on the payment of dividends, the composition of the Board of Directors and their fees, and the election of the auditor.
Dividend payout
It was decided that a dividend of EUR 0.80 will be paid per share, or a total of EUR 101.8 million, as proposed by the Board of Directors. The right to a dividend rests with a shareholder who by the record date of March 18, 2008, has been entered as a shareholder in the company's shareholder register that is kept by the Finnish Central Securities Depository Ltd. It was decided that the dividend will be paid on April 2, 2008.
Composition of the Board of Directors and their fees
The Annual General Meeting resolved to elect a Chairman, Vice Chairman and three ordinary members to the Board of Directors, namely: Reino Hanhinen as Chairman, Eino Halonen as Vice Chairman and Kim Gran, Antti Herlin and Teuvo Salminen as members.
Board of Director's meeting fees were kept unchanged, i.e. the following fees will be paid to the Board of Directors: Chairman EUR 6,000/month (EUR 72,000/year), Vice Chairman EUR 4,500/month (EUR 54,000/year), member EUR 3,500/month (EUR 42,000/year) plus a meeting fee of EUR 500 for each meeting, and that similarly EUR 500 be paid to the members of the Audit Committee for each committee meeting. Per diems for trips in Finland and abroad are paid in accordance with the State's travelling compensation regulations.
Election of the auditor
PricewaterhouseCoopers Oy, Authorized Public Accountants, was elected as the company's auditor, with Heikki Lassila, Authorized Public Accountant, as chief auditor.
For further information, contact: Sakari Toikkanen, Executive Vice President, +358 20 433 2336, sakari.toikkanen@yit.fi, Marja Salo, Director of Administration, +358 20 433 2470, marja.salo@yit.fi
YIT CORPORATION
Juha Kostiainen Vice President, Corporate Communications and Business Development
Distribution: OMX Nordic Exchange in Helsinki, principal media, www.yitgroup.com