Tyco International (TYC) Shareholders Approve Board, 7% Higher Dividend

March 6, 2013 12:29 PM EST
Tyco International Ltd. (NYSE: TYC) announced today that its shareholders approved all proposals presented at the company's Annual General Meeting, including the reelection of all ten nominees to the Board of Directors to additional one year terms.

Shareholders approved an annual dividend of $0.64 per share, representing an approximate 7 percent increase over the current $0.60 annual dividend. Payment of the dividend is to be made in four quarterly installments of $0.16 from May 2013 through February 2014. Shareholders also approved proposals to reappoint the company's auditors, renew the company's authorized share capital, and reduce its registered share capital. In addition, a supermajority of shareholders endorsed the company's executive compensation practices by voting in favor of the advisory "say-on-pay" proposal.

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