The Board of Investment AB Latour (publ) decides on revised proposal for dividend
Investment AB Latour (publ) has followed the development of the global Covid-19 pandemic and its impact on Latour's holdings. The Group’s financial position remains strong, and both in Latour's wholly-owned operations and in the investment portfolio companies, extensive measures have been implemented to address the uncertain market situation.
In the Quarterly Report for the fourth quarter 2019 and in the Annual Report 2019, the Board has communicated its proposal of a dividend of SEK 2.75 per share for the financial year 2019. Due to the fact that the majority of Latour’s listed companies have withdrawn or reduced their dividends proposals combined with the uncertainty in the market as a result of Covid-19, the Board of Directors has today as a precautionary measure decided to revise the proposed dividend to SEK 1.25 (2.50) per share. The record date for the dividend is proposed to remain unchanged on May 13, 2020.
The Board’s assessment is that a revised dividend will benefit the Group’s future investment opportunities and enable the company to act in a forward-looking perspective and move its holdings’ positions forward even in this prevailing climate.
Göteborg, May 6, 2020
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Johan Hjertonsson, President and CEO Latour, +46 702 29 77 93
Anders Mörck, CFO Latour, +46 706 46 52 11
This information is information that Investment AB Latour (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 persons set out above, at 17:40 CEST on 6 May 2020.
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 58 billion. The wholly-owned industrial operations has an annual turnover of about SEK 15 billion.