Trane Technologies Reports Results of Voting from 2022 Annual General Meeting, Declares Quarterly Dividend
Trane Technologies plc (NYSE:TT), a global climate innovator, held its 2022 Annual General Meeting of shareholders in Adare, Ireland.
During the Annual General Meeting, the company's shareholders considered six proposals: nominations to reelect 11 members of Trane Technologies' Board of Directors; advisory approval of the compensation of the company's named executive officers; appointment of independent auditors and authorization of the Audit Committee to set the auditors' remuneration; renewal of the Board of Directors' existing authority to issue shares; renewal of the Board of Directors' existing authority to issue shares for cash without first offering shares to existing shareholders; and determination of the price range at which the company can re-allot shares that it holds as treasury shares.
The results of the Annual General Meeting voting are as follows:
All 11 individuals nominated for the Board of Directors – Kirk E. Arnold, Ann C. Berzin, April Miller Boise, John Bruton, Jared L. Cohon, Gary D. Forsee, Linda P. Hudson, Myles P. Lee, David S. Regnery, John P. Surma and Tony L. White – were elected to a one-year term, which expires at the company's next Annual General Meeting.
The proposal to give advisory approval of the compensation of the company's named executive officers received approximately 92 percent of votes cast in favor.
The proposal to approve the appointment of PricewaterhouseCoopers as the independent auditors of the company and to authorize the Audit Committee to set the auditors' remuneration received approximately 91 percent of the votes cast in favor.
The proposal to approve renewal of the Board of Directors' existing authority to issue shares received approximately 97 percent of the votes cast in favor.
The proposal to approve renewal of the Board of Directors' existing authority to issue shares for cash without first offering shares to existing shareholders received approximately 98 percent of the votes cast in favor.
The proposal to determine the price range at which the company can re-allot shares that it holds as treasury shares received approximately 99 percent of the votes cast in favor.
The Board of Directors also declared a quarterly dividend of $0.67 per ordinary share, or $2.68 annualized. The dividend is payable September 30, 2022, to shareholders of record on September 2, 2022. Trane Technologies has paid consecutive quarterly cash dividends on its common shares since 1919 and annual dividends since 1910.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Learn more at TraneTechnologies.com.
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