Indutrade’s Board of Directors withdraws the proposal of dividend and announces a new date for the 2020 Annual General Meeting
Due to the uncertain market condition the Board of Directors has resolved to withdraw the previously announced proposal of dividend of SEK 4.75 per share and instead propose to the 2020 Annual General Meeting (AGM) that no dividend will be paid for the financial year 2019.
Since the Board of Directors presented its original dividend proposal, the market conditions have changed considerably for a number of companies within the Group, with cost reduction measures and temporary lay-offs as results.
The Board of Directors has also resolved that Indutrade’s AGM 2020 will be held 2 June 2020 in Stockholm. Notice of the AGM will be published shortly.
Stockholm, 27 April 2020
INDUTRADE AB (publ)
For further information, please contact:
Frida Adrian, VP Communications, Sustainability & Investor Relations
tel. +46 70 930 93 24, frida.adrian@indutrade.com
This information is such that Indutrade AB is obligated to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication by the agency of the contact person above at 12.00 p.m. (CEST) on 27 April 2020.
About Indutrade
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by
- High-tech products for recurring needs
- Growth through a structured and tried-and tested acquisition strategy
- A decentralised organisation characterised by an entrepreneurial spirit
The Group is organised into eight Business Areas: Benelux, DACH, Finland, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement & Sensor Technology and UK. Indutrade’s sales totalled SEK 18,411 million in 2019, generating an operating profit of SEK 2,330 million before amortisation of intangible assets. Indutrade is listed on Nasdaq Stockholm. Please read more at www.indutrade.com
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