Public limited companies are required to hold an Annual General Meeting, or AGM of shareholders at which decisions are taken on the company's business. ?
The 'ordinary' business of the AGM is repeated every year and includes accepting the company's accounts for the year and fixing the proportion of a company's profits that will be paid back to shareholders as a dividend. The company directors often take this opportunity to put forward other business requiring the approval of shareholders e.g. renewal of a share plan.