Novartis (NVS) said Friday its shareholders have approved a dividend increase of 5.7% to 3.70 Swiss francs ($4.74) per share for 2025.

The dividend will be paid from March 12, Novartis said.

Shareholders have also approved a proposal by the board to cancel about 77.6 million shares and to decrease the share capital accordingly by about 38 million Swiss francs to roughly 997.1 million Swiss francs, the company said.

Shareholders also confirmed Giovanni Caforio as board chair, as well as the other members of the board who stood for re-election, the company said. Charles Swanton was newly elected as member of the board, Novartis said, adding Daniel Hochstrasser did not stand for re-election.

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