DBS to pay final dividend on May 26 on shareholder approval via virtual AGM on April 30

DBS Group will pay its shareholders their final dividend for fiscal 2019 of 33 cents per share on May 26, once it gets approval from shareholders via a virtual annual general meeting (AGM) to be held on April 30 at 2.30pm, Singapore's largest bank said on Wednesday.

The bank announced the new date and time of its adjourned AGM following tightened safe-distancing measures imposed by Singapore authorities, involving a month-long "circuit breaker" that effects a partial lockdown. Most businesses have drawn down physical shutters during the "circuit breaker" that lasts till May 4 for now, save for those providing essential services.

In view of this, legal measures have been put in place to provide for alternative arrangements for companies in Singapore to conduct shareholder meetings through virtual means.

DBS will hold its deferred AGM on the same day it releases its first-quarter results for 2020. 

The proceedings of the adjourned virtual AGM by DBS will be conducted by DBS' board chairman Peter Seah, and group CEO Piyush Gupta. 

As shareholders will not be able to ask questions at the AGM live during the webcast or audio-stream, they must pre-register and submit their questions ahead of time, either through the pre-registration website (https://go.dbs.com/agm2020) or by post. All questions must be submitted by 2.30pm on April 27.

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The bank said it will endeavour to address "all substantial and relevant questions" received from shareholders during the virtual AGM itself.

"However, as there may not be sufficient time to address all such questions during the AGM itself, we will publish our responses to those questions which we are unable to address during the AGM, on our corporate website and on SGXNet prior to the AGM."

DBS will also, as per current practice, publish the minutes of the AGM on its corporate website and on SGX. The minutes of the meeting will include the responses to "substantial and relevant questions" from shareholders which had been addressed during the AGM.

Shareholders must pre-register at the pre-registration website from now till 2.30pm on April 27 to enable DBS to verify their status as shareholders. Following the verification, authenticated shareholders will receive an email by 12pm on April 29. The email will contain user ID and password details, as well as the link to access the live audio-visual webcast and a toll-free telephone number to access the live audio-only stream of the adjourned AGM proceedings.

Shareholders who had already pre-registered to observe and or to listen to the AGM proceedings through the live webcast as at March 26 - the day the deferral of the original AGM scheduled for March 31 was announced - do not have to pre-register again. Likewise, shareholders who had previously submitted their completed proxy forms for the AGM do not have to submit proxy forms again. If they wish to, they can also withdraw such forms by 2.30pm on April 27 via dbsproxy@sg.tricorglobal. com.