RPM's annual meeting of shareholders is typically held the first week in October.
The most recent annual meeting was held on October 8, 2020. In order to protect the health and well-being of its investors and employees from Covid-19, the meeting was held virtually. At the meeting, two key announcements were made:
Dividend Boosted for 47th Consecutive Year
RPM’s board of directors increased the cash dividend for the 47th consecutive year, boosting the quarterly payment 5.6% to $0.38 per share. Only 41 other companies, besides RPM, have consecutively paid an increasing annual dividend for this period of time or longer, according to the Mergent Handbook of Dividend Achievers. Increasing the dividend, combined with an appreciating stock price, is key to RPM’s ability to consistently deliver long-term value and outperform the cumulative total return of the broader market.
Four Directors Re-Elected
Four directors were re-elected to three-year terms. They included Julie A. Lagacy, vice president of global information services and chief information officer of Caterpillar Inc.; Robert A. Livingston, retired president and chief executive officer of Dover Corporation; Frederick R. Nance, global managing partner of Squire Patton Boggs (US) LLP; and William B. Summers Jr., retired chairman and chief executive officer of McDonald Investments Inc.
Following the formal portion of the meeting, RPM Chairman and CEO Frank Sullivan provided an update on the state of the company and answered shareholders’ questions.
The meeting replay can be accessed at www.virtualshareholdermeeting.com/RPM2020.