Bunge: Increases Dividend, Announces Meeting Results

White Plains / NY. (bl) Agricultural giant Bunge Limited announced that its Board of Directors has approved an 8,7 percent increase in the company´s regular quarterly cash dividend from 0,23 USD to 0,25 USD per common share. The new dividend is payable on September 02, 2011, to shareholders of record on August 16, 2011. The company also declared a quarterly cash dividend of 1,21875 USD per share on its 4,875 percent cumulative convertible perpetual preference shares, payable on September 01, 2011, to shareholders of record on August 15, 2011.

The agricultural giant also announced the results of its Annual General Meeting of Shareholders, which was held in New York City.

  • Election of Directors: Shareholders elected Mr. Ernest Bachrach and Mr. Enrique Boilini as directors for a three-year term. Bunge´s Board now has ten directors.
  • Approval of the Appointment of Independent Auditors: Shareholders approved the appointment of Deloitte + Touche LLP as independent auditors for the fiscal year ending December 31, 2011, and the authorization of the Audit Committee of the Board of Directors to determine the independent auditors´ fees.
  • Advisory Vote on Executive Compensation: Shareholders approved this proposal.
  • Advisory Vote on Frequency of Future Shareholder Votes on Executive Compensation: Consistent with the recommendation of the Board, a majority of shareholders voted in favour of having future advisory votes on executive compensation on an annual basis.

The final vote results will be reported in a Form 8-K to be filed by Bunge with the Securities and Exchange Commission.

bakenet:eu