Rottneros' financial position remains strong and demand for the company's products has been stable, but as a consequence of the increased uncertainty of the global economic outlook coming from the spread of the corona virus, Rottneros' Board of Directors has decided to withdraw the dividend proposal for the 2020 Annual General Meeting.
On 18 March 2020, Rottneros AB (publ) ("Rottneros") gave an update on the situation regarding the corona pandemic and informed that Rottneros' Board of Directors had resolved to revise the dividend proposal for the 2020 Annual General Meeting. The revised proposal implied that the ordinary dividend of SEK 0.40 /share would be maintained, while the previously proposed extra dividend of SEK 0.20 /share was cancelled.
Taking into account the continued uncertainty regarding the effects of the corona pandemic and its impact on the Rottneros Group, the Board of Directors of Rottneros has resolved to withdraw its proposal for the ordinary dividend of SEK 0.40 /share to the Annual General Meeting 2020. Consequently, the Board proposes that no dividend be paid to the shareholders for the financial year 2019 and that available profits shall be carried forward.
The Board will continuously analyse the global situation and should market conditions stabilise during the year while the Rottneros financial position remains good, the Board will consider convening an Extraordinary General Meeting later this year in order to resolve on a dividend.
For more information please contact:
Per Lundeen, Chairman, Rottneros AB, +46 (0) 70 518 3347, per.lundeen@rottneros.com
This is information that Rottneros AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 16:00 CET on 5 May 2020.