SSAB’s Board of Directors has previously proposed a dividend of SEK 1.50 per share. Due to the current uncertainty related to Covid-19, the Board is now to propose that the Annual General Meeting on April 1, 2020 resolves on a dividend of SEK 0.75 per share.
During the first three months of this year, the business has largely proceeded according to expectations. However, the outlook is uncertain. This is due to the spread of Covid-19 and its effects on industrial production and on the economy in general.
SSAB has a strong balance sheet and a historically low net debt to equity-ratio, and has also secured a solid preparedness in terms of liquidity. In view of the current uncertainty, the Board believes that it is motivated to adjust the dividend proposal to SEK 0.75 per share as a precautionary measure.
The proposal for the record date for payment of the dividend, Friday, April 3, 2020, is unchanged. Provided that the Annual General Meeting resolves in accordance with the proposal, dividends are expected to be distributed by Euroclear Sweden AB on Wednesday, April 8, 2020.
SOURCE: SSAB
