Swedish Match’s Board of Directors has resolved to propose special dividend
The Board of Directors of Swedish Match has resolved to propose a special dividend of 9.50 SEK per share at an extraordinary general meeting that will be held in Stockholm, Sweden, on December 16, 2016.
In September, Swedish Match sold 13,000,000 shares in Scandinavian Tobacco Group for a total amount of 1,752 MSEK. Following this transaction a special dividend is proposed in accordance with Swedish Match’s financial strategy of returning excess cash not needed for its own operations to its shareholders. The special dividend, if approved, would amount to 1,763 MSEK based on the 185.5 million shares outstanding as per September 30, 2016. Upon approval by the shareholders, payment of the dividend is anticipated to be on December 23, 2016.
Notice to the extraordinary general meeting will be published separately.
Lars Dahlgren, President and Chief Executive Officer
Office +46 8 658 0441
Marlene Forsell, Senior Vice President and Chief Financial Officer
Office +46 8 658 0489
Emmett Harrison, Senior Vice President Investor Relations and Corporate Sustainability
Office +46 8 658 0173
This information is information that Swedish Match 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 person set out above, at 6.30 p.m. CET on October 27, 2016.
Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product areas Snus and moist snuff, Other tobacco products (cigars and chewing tobacco), and Lights (matches, lighters, and complementary products). Production is located in six countries, with sales concentrated in Scandinavia and the US. The Group’s global operations generated sales of 14,951 MSEK for the twelve month period ending 30 June 2016. The Swedish Match share is listed on Nasdaq Stockholm (SWMA).
Swedish Match’s vision is a world without cigarettes. Some of its well-known brands include: General, Longhorn, White Owl, Red Man, Fiat Lux, and Cricket.
Swedish Match AB (publ), SE-118 85 Stockholm, Sweden
Visiting address: Sveavägen 44, 8th Floor. Telephone: +46 8 658 0200
Corporate Identity Number: 556015-0756