ABB shareholders approve proposals

Shareholders of power and automation technology group ABB have approved all proposals submitted by the Board of Directors to the company’s annual general meeting in Zurich.

All eight members of the board were re-elected for another annual term.

Shareholders voted for a payout of CHF0.51 (£0.3) per share for 2009, an increase of six per cent over the previous year, to be paid in the form of a reduction in the nominal value of the shares.

The shareholders agreed to a proposal to cancel the 22,675 million shares that were purchased under the programme.