3rd Dec 2020 18:39
(Alliance News) - MJ Gleeson PLC on Thursday said it would engage with shareholders over director remuneration and plans to revive its dividend.
At its annual general meeting, MJ Gleeson said all resolutions put to the meeting were voted on by way of a poll and were passed by the shareholders.
Regarding remuneration, Gleeson said that while it welcomes the strong level of support for the resolutions put to the meeting, it notes that resolution 10 - to approve the directors' Remuneration Report - was passed with 60.7% of votes cast.
"The company engaged with shareholders and the relevant proxy advisory companies in advance of the AGM and fully understands the issues of primary concern. However, Andrew Coppel, as the recently appointed chairman of the Remuneration Committee, will undertake a wider engagement with shareholders as part of the Committee's review of the company's overall remuneration policy ahead of publishing its next report. The board will provide an update no later than 6 months' time," it said.
Earlier on Thursday, the housebuilder said it is "minded" to resume dividend payments in 2021 on the back of a "strong" interim performance to date, having decided against a dividend in its year ended June 30.
Trading so far in the new financial year has been promising, helped by the housing sector being deemed an essential service during the latest lockdown in England. MJ Gleeson now expects its annual performance to top current expectations.
The stock closed up 13% at 788.00 pence Thursday.
By Arvind Bhunjun; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
MJGleeson