OGE shareholders updated at annual meeting

  • May 20, 2021

 

OGE Energy Corp. held its 2021 Annual Meeting of Shareholders on Thursday in a virtual gathering where board members were elected and shareholders were told the company is as strong as ever.

“Our company is strong,” said Sean Trauschke, Chairman, President and CEO. “While the coronavirus and extreme weather have presented challenges, it is important to understand that we have always been determined to set our sights on excelling through the recovery.”

He acknowledged the challenges of the past year were marked by historic weather events and the COVID-19 pandemic but also paid tribute to the nation’s frontline healthcare workers.

“In February, OG&E celebrated the 119th anniversary of its formation, and in recognition of this milestone, the company honored frontline healthcare heroes with a $100,000 donation in support of their critical efforts to care for those affected by the coronavirus pandemic,” Trauschke said. “We urge everyone to continue supporting their vital work.”

The company leader said that despite the severe weather in February, OG&E recorded its second safest year to-date.

In voting announced at the meeting, OGE Energy shareholders:

  • Elected 10 members of the company’s board of directors to one-year terms. They are:
    • Frank A. Bozich, president and chief executive officer at Trinseo
    • Peter D. Clarke, former of-counsel and partner of Jones Day, a law firm
    • Luke R. Corbett, former chairman and chief executive officer of Kerr-McGee Corporation
    • David L. Hauser, former chairman and chief executive officer of FairPoint Communications Inc.
    • Luther C. Kissam, IV, partner with Bernhard Capital Partners
    • Judy R. McReynolds, chairman, president and chief executive officer of ArcBest Corporation
    • David E. Rainbolt, executive chairman of BancFirst Corporation
    • J. Michael Sanner, former audit partner of Ernst & Young LLP
    • Sheila G. Talton, president and chief executive officer of Gray Matter Analytics
    • Sean Trauschke, current chairman, president and chief executive officer of OGE Energy Corp. and OG&E
  • Ratified the appointment of Ernst & Young LLP as the company’s principal independent accountants for 2021.
  • Approved, on an advisory basis, the compensation paid to named executive officers.

In addition:

  • Did not approve the amendment of the restated certificate of incorporation and by-laws to permit shareholders to act by written consent; and
  • The shareholder proposal regarding simple majority vote received 86 percent of the votes cast, but less than the 80 percent of the outstanding votes required to implement the changes.

Quarterly Dividend Declared
The OGE Energy board of directors also declared a third quarter dividend of $0.4025 per common share of stock, to be paid July 30, 2021, to shareholders of record July 12, 2021. The dividend was unchanged from the previous quarter. This year marks the 75th consecutive year OGE Energy has paid dividends to shareholders.

Source: OGE Press release

Jerry Bohnen