The Board of Directors of Inwido AB withdraws the dividend proposal, due to the spread of the Coronavirus
This information is such that Inwido AB (publ) is obliged to publish in accordance with the EU market abuse regulation. The information was submitted by the below contact persons for publication on 27 March 2020, at 8:45 CET.
The Board of Directors of Inwido AB has decided to withdraw the previously communicated dividend proposal to the Annual General Meeting 2020 of SEK 3.50 per share. The decision has been made despite the fact that Inwido's financial position is strong and does not reflect any change in Inwido's dividend policy or future dividend ambitions.
The background to the decision is the considerable uncertainty that exists as a result of the effects of the spread of the Covid-19 virus. At present, it is impossible to assess how long-lasting or serious the current situation and its effects will be. The Board of Directors motivates this decision by concluding that it is important that Inwido’s financial position is as strong as possible ahead of potential future challenges and opportunities.
It is therefore the Board's opinion that the dividend proposal, communicated in the year-end report 2019, under current circumstances, is no longer justified as Inwido may need increased financial resilience in the future. The Board of Directors has resolved to propose a dividend of SEK 0 per share to the Annual General Meeting on May 5.
For more information, please contact:
Peter Welin, CFO and deputy CEO
Phone: 46(0)70-324 3190 or 46(0)10-451 45 52
Inwido owns and develops companies that improve people’s everyday lives indoors with various products and services. Today, Inwido is Europe’s largest windows group and a natural home for the region’s strongest companies in the areas of comfort, indoor climate and safety. In 2019, Inwido achieved sales of SEK 6.6 billion and an operating EBITA margin of 9.7 percent. The Group has some 4,400 employees in total, with operations in Denmark, Estonia, Finland, Ireland, Lithuania, Norway, Poland, Romania, the UK, Sweden and Germany.