SCA: Changed Decision on Proposed Dividend
31 March 2020
STOCKHOLM, March 30, 2020 /PRNewswire/ -- The Board of Director's assessment of the dividend level for 2019 remains unchanged. However, as a precaution and in order to better assess the consequences of the corona pandemic, the Board has decided to withdraw its proposal to the Annual General Meeting with regard to the dividend payout. The Board intends to call for an extraordinary General Meeting later in the year for a resolution on dividend payout.
SCA's financial position is strong, both in terms of equity as well as liquidity. The Board of Director's assessment is that the former proposal on dividend payout would not jeopardise SCA's operations and development. However, in order to better assess the effects of the corona pandemic on demand, deliveries and profit, the Board has decided to withdraw its proposal to the Annual General Meeting on the dividend payout. The Board intends to call for an extraordinary General Meeting later in the year for a resolution on the matter.
As previously announced, SCA's Annual General Meeting will be held at hotel Södra Berget in Sundsvall on Tuesday March 31, 2020. The Annual General Meeting is to be held in accordance with the recommendations from the Public Health Agency of Sweden.
This is information that SCA is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication through the agency of the contact person set out below on March 30, 2020 at 15:00 CET. Björn Lyngfelt, SCP Communications, tel. +46 70 626 82 23
The core of SCA's business is the forest, Europe's largest private forest holding. Around this unique resource, we have built a well-developed value chain based on renewable raw material from our own and others' forests. We offer paper for packaging and print, pulp, wood products, renewable energy, services for forest owners and efficient transport solutions.
2019 the forest products company SCA had approximately 4,000 employees and sales amounted to approximately SEK 19.6 bn (EUR 1.9 bn). SCA was founded in 1929 and has its headquarters in Sundsvall, Sweden. For more information, visit www.sca.com
For further information, please contact:
Björn Lyngfelt, SVP Communications, tel. +46 70 626 82 23
Jan Svedjebrant, Secretary to the Board, tel. +46 60 19 31 23
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The following files are available for download:
Press release (PDF)