CLEVELAND, Oct. 18, 2012 /PRNewswire/ -- The Board of Directors of The Sherwin-Williams Company (NYSE: SHW) today announced a regular quarterly dividend of $0.39 per common share, payable on November 30, 2012, to shareholders of record on November 16, 2012.
In addition, the Board of Directors voted today to submit a proposal to shareholders to adopt a majority voting standard for the election of directors at Sherwin-Williams' 2013 Annual Meeting of Shareholders.
Shareholders will be asked to vote on an amendment to Sherwin-Williams' Amended Articles of Incorporation that would implement a majority voting standard for uncontested elections of directors in place of plurality voting. A plurality voting standard would continue to apply in contested elections of directors.
If Sherwin-Williams' shareholders approve the proposal, the Board would also amend its Corporate Governance Guidelines to conform its director resignation policy to the majority voting standard so that a holdover incumbent director who did not receive the requisite majority vote would be required to tender his or her resignation to the Board.Investor Relations Contact: Bob WellsSenior Vice President, Corporate Communications and Public AffairsSherwin-WilliamsDirect: 216.566.2244 firstname.lastname@example.org Media Contact: Mike ConwayDirector, Corporate CommunicationsSherwin-WilliamsDirect: 216.515.4393Pager: 216.422.3751 email@example.com SOURCE The Sherwin-Williams Company