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| ABB elects new board member, approves dividend Shareholders of ABB, the leading power and automation technology group, elected Hubertus von Grünberg to the board of directors at the group's annual general meeting in Zurich. Von Grünberg will take over as Chairman from Jürgen Dormann, who retired from the board after completing his latest term. The seven remaining members of the board who stood for another term were all re-elected. Shareholders also approved the payment of a dividend of CHF 0.24 per share for 2006, twice the payment made for 2005. The shares will trade without the right to the 2006 dividend from May 8, 2007. A total of 1,403 shareholders attended the annual general meeting, representing 46.4 percent of the total share capital entitled to vote. ABB also announced that it will create a foundation with total funding of 20 million Swiss francs ($16.6 million) to sponsor talented and needy students in engineering and natural sciences. The ABB Jürgen Dormann Foundation for Engineering Education will support graduate students in engineering and natural science with scholarships for a maximum of five years each. write your comments about the article :: © 2007 Construction News :: home page |