Estee Lauder Companies Inc Annual Shareholders Meeting Transcript
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Good morning. I am William Lauder, Executive Chairman of the Estée Lauder Companies. Welcome to the 2020 Annual Meeting of Stockholders.
For those of you who attended our meetings in the past, you know how much we would have enjoyed meeting with you in person to celebrate our 25th Annual Meeting as a public company. Given COVID-19, we are holding this meeting virtually.
I am now calling the meeting to order. As we begin, I want to start off by thanking the stockholders for your continued support of the company and the Board members for their ability to adapt to the new ways of working and their guidance through these challenging times. As you know, the Board recently increased the quarterly dividend to $0.53 per share, up from $0.48.
Based on the preliminary report of the Inspectors of Election, we have a quorum, and we will now proceed with the formal business of the meeting. The Inspectors of Election have issued a preliminary report stating that shares of Class A common
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