MIDLAND, Mich.--(BUSINESS WIRE
)--Dow Inc. (NYSE: DOW) is pleased to report the preliminary results of its 2020 Annual Meeting. Stockholders today elected Samuel R. Allen, Ajay Banga, Jacqueline K. Barton, James A. Bell, Wesley G. Bush, Richard K. Davis, Jeff M. Fettig, Jim Fitterling, Jacqueline C. Hinman, Jill S. Wyant, and Daniel W. Yohannes to the Company’s Board of Directors for one-year terms.
Stockholders approved an advisory vote on executive compensation, voted to approve executive compensation on an annual basis, and ratified the appointment of Deloitte & Touche LLP as Dow’s independent auditor for 2020.
The final voting results on all agenda items will be available in a Form 8-K to be filed by the Company and can be found at webcast
replay on Dow’s website.
Following the Company’s 2020 Annual Meeting of Stockholders, the Board of Directors declared a quarterly dividend of 70 cents per share, payable June 12, 2020, to shareholders of record on May 29, 2020. Consistent with Dow’s capital allocation priorities, this payout reaffirms the Company’s focus on delivering solid shareholder returns and marks the 435th consecutive dividend paid by Dow or its affiliates since 1912.
The Board also elected Dow CEO Jim Fitterling as chairman and elected Jeff Fettig to serve as independent lead director for a one-year term. Jeff joined Dow’s board in 2003 and has experience serving on the Company’s audit, compensation and governance committees.
The chairman has the lead responsibility for managing the board. The lead director will retain significant responsibilities including the authority to call meetings of the independent directors, coordinating with the chairman to set and approve the board schedule and agenda, serving as a liaison between the chairman and the independent directors, and other functions as the board may direct.
Dow’s Board of Directors bring a variety of relevant skills and diverse experiences, which includes senior leadership, global business, capital allocation, financial acumen, technology expertise, operational experience, as well as marketing and academic research backgrounds. The board is comprised of a strong balance of new and experienced directors, with more than half joining in the past five years. Additionally, Dow’s board possesses gender and ethnic diversity – more than half of the independent directors are female or members of a U.S. ethnic minority group.
Biographies for all directors, committee assignments and other corporate governance information will be available on our www.dow.com