Safran’s 2019 Annual General Meeting of Shareholders approves a dividend payment of €1.82 per share. The Board of Directors re-appoints Ross McInnes as Chairman

Paris, May 23, 2019

The combined Annual General Meeting of Shareholders of Safran (Euronext Paris: SAF) met today at the Grande Arche, Paris - La Défense, under the chairmanship of Ross McInnes, Chairman of the Board of Safran.

The meeting provided a unique opportunity for the Group for information, exchange and discussion in the company of shareholders. Philippe Petitcolin, Chief Executive Officer, and Bernard Delpit, Chief Financial Officer, reviewed Safran's activity and the 2018 full year results, the outlook for 2019-2022, as well as Safran’s first integrated report. Ross McInnes, Chairman of the Board and Monique Cohen, Chair of the Appointments and Compensation Committee presented subjects relating to corporate governance and corporate officers’ compensation.

On the same day, the Board of Directors decided to renew Ross McInnes as Chairman of the Board, for the same duration as his term of office as a Director, i.e., until the close of the Annual General Meeting to be held to approve the financial statements for the year ending December 31, 2022.

 

Voting results

Resolutions submitted for a vote by the Annual General Meeting were approved notably financial authorizations allowing Safran to seize, if appropriate, opportunities arising on financial markets but excluding those which could be used during a public offer.

Therefore, shareholders also approved:

• the financial statements for the fiscal year 2018 and voted for the payment of a dividend of 1.82 euro per share, to be paid as of May 29, 2019;
  
   
• the re-appointments as Directors of Ross McInnes, Philippe Petitcolin, Jean-Lou Chameau, Vincent Imbert and the appointment of Laurent Guillot;
  
   
• components of the 2018 compensation to the executive corporate officers as well as compensation policies applicable to them;
  
   
• a new authorization allowing Safran to repurchase its own shares with a price not to exceed € 155 per share;
  
   
• an amendment of the Company's bylaws in order to further detail the procedure for nominating candidates for appointment as directors representing employee shareholders;

 

By decision of the Board, Laurent Guillot, new independent Director, joins the Audit and Risk Committee. Moreover, Hélène Dantoine, representing the French State, replaces Vincent Imbert as member of the Audit and Risk Committee and of the Appointments and Compensation Committee.

The independence rate of the Board of Directors, still composed of 17 directors, is increased to 61.5%¹.

The results of the vote will be published in the Finance section of the Group's website, www.safran-group.com.

 

Financial calendar

• Ex-dividend date May 27, 2019
• Dividend payment as from May 29, 2019
• 2019 half-year results announcement September 5, 2019

 

^{1 Directors representing employee shareholders and Directors representing employees are not taken into account when calculating this percentage, in accordance with the Afep-Medef Corporate Governance Code.}