Bittium Corporation’s Board of Directors Has Decided That No Dividend Will Be Paid for 2019
Stock Exchange Release
Free for publication on November 27, 2020 at 2.46 p.m. (CET+1)
Bittium Corporation’s Board of Directors Has Decided That No Dividend Will Be Paid for 2019
Under the authorization of the Annual General Meeting held on June 15, 2020, the Board of Directors of Bittium Corporation has decided today, that no dividend based on the distributable assets of the adopted balance sheet for the financial period of January 1, 2019 - December 31, 2019 shall be paid. This decision strengthens the company’s ability to invest in line with its strategy to enable future growth.
According to the parent company's balance sheet at December 31, 2019, the distributable assets of the parent company are approximately EUR 116.8 million, of which the profit of the financial year is approximately EUR 4.8 million. The Annual General Meeting, held on June 15, 2020, decided in accordance with the proposal of the Board of Directors that no dividend will be distributed by the General Meeting and to authorize the Board of Directors to decide at a later stage and in its discretion on dividend distribution not exceeding the aggregate maximum amount of EUR 3.6 million in one or several instalments, which corresponds to approximately EUR 0.10 per share with the current number of shares.
Oulu, November 27, 2020
The Board of Directors
Bittium Corporation
Further information:
Kari Jokela
Chief Legal Officer
Tel. +358 40 344 5258
Distribution
Nasdaq Helsinki Oy
Main media
Bittium
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its 35 year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology, neurology, rehabilitation, occupational health and sports medicine. Net sales in 2019 were EUR 75.2 million and operating profit was EUR 6.3 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com