Chico's FAS announces election of Class III Directors
27 Jun '11
2 min read
Chico's FAS, Inc announced that its stockholders elected all three of the Directors standing for election as Class III Directors at Annual Meeting of Stockholders.
In addition, over 95% of its stockholders approved an advisory resolution on executive compensation and a large majority voted to have a say-on-pay vote every year. As a result of the stockholder vote, the Company announced that it would hold a say-on-pay vote every year.
Stockholders also approved an amendment to the Company's Employee Stock Purchase Plan and the appointment of Ernst & Young LLP as the Company's independent public accountants for the fiscal year ending January 28, 2012 (fiscal 2011).
In his prepared remarks to the stockholders attending the meeting, David F. Dyer, President and CEO stated: "While not a projection or guidance, as a snapshot of our business as of June 22, 2011, preliminary total sales for the second quarter reflected a percentage increase in the positive mid-teens and a consolidated comparable sales percentage increase in the positive low double digits."
Chico's FAS Board of Directors also declared a regular quarterly cash dividend of $0.05 per share on its common stock. The dividend will be payable on September 26, 2011 to shareholders of record at the close of business on September 12, 2011.
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