In accordance with orders issued by the relevant German authorities, which include a ban of large meetings in order to contain the further spreading of coronavirus, Adidas AG has decided to postpone this year’s annual general meeting until further notice.
Adidas said “the health and safety of the company’s employees, shareholders, consumers and partners” remain the company’s No. 1 priority, so the company resolved not to hold the meeting as scheduled on May 14, 2020, in Fuerth (Bavaria).
The meeting will be held within the legally required timeframe in 2020, with the exact date to be communicated in due course. This postponement will inevitably delay all resolutions from the general meeting, including the resolution on the appropriation of retained earnings, which is a mandatory legal requirement for the payment of the proposed dividend of €3.85 per share.
Despite the temporary challenges posed by the coronavirus outbreak, the company said it “remains fully confident about its future growth prospects thanks to its healthy fundamentals and strong positioning within an attractive industry.”
Photo courtesy Adidas
