Comedia proposes dividend waiver at Tamedia AGM

The media union Comedia is planning symbolic actions around Tamedia's Annual General Meeting on May 18. As a shareholder, the union intends to propose a dividend waiver at the AGM. The CHF 25 million saved in this way will be used to increase the salaries of all Tamedia employees by 5 percent retroactively as of January 1, 2006. The remaining 15 million Swiss francs are to be allocated to a reserve fund which will be used to preserve jobs in the future. In addition, shareholders will have the opportunity to hit the pay jackpot on Thursday from 1 p.m.: those who hit the low wages and low job figures will see their management salaries and dividends skyrocket.