Changed dividend proposal for 2019 due to COVID-19
The Board of Directors of Kungsleden has decided to withdraw its earlier proposal to the Annual General Meeting regarding a dividend. The company has a strong financial position, with healthy liquidity, and generous unutilized lines of credit. Due to the COVID-19 pandemic and the uncertain economic development in the market and our business environment, the Board intends to wait until it is possible to gain a better overview of the consequences.
During the first quarter of 2020, the effect of Covid-19 has been limited for Kungsleden. The company has a strong financial position and just over 3 billion crowns in cash and unutilized lines of credit.
As a precautionary measure, with respect for the fact that it is currently difficult to gain an overview of the developments resulting from COVID-19, the Board proposes to the Annual General Meeting that no dividend be paid. The Board intends to wait until it is possible to gain a better overview of the consequences of the COVID-19 pandemic and if the conditions allow, its ambition is to hold an Extraordinary General Meeting in the autumn of 2020. A proposal for a dividend and the amount of such will be provided in the event of an Extraordinary General Meeting being held.
The Board’s earlier proposal to the Annual General Meeting was for a dividend totaling SEK 2.60 per share to be disbursed quarterly at SEK 0.65 per share.
Kungsleden is monitoring the development of Covid-19 on an ongoing basis and is safeguarding the health of its employees and customers by taking the necessary measures to reduce the spread of infection in society.
For more information, please contact:
Charlotte Axelsson, Chair of the Board, Kungsleden | +46 (0)70-222 64 88 | charlotte.axelsson@kungsleden.se
This information is mandatory for Kungsleden AB to publish pursuant to the EU Market Abuse Regulation. This information was submitted for publication at 7:00 p.m. CET on 14 April 2020 by the above contacts.
About Kungsleden. We are people that create places and experiences for people. By developing and managing attractive and sustainable places, we offer people a better and more inspiring work experience. We are a long-term property owner focused on commercial properties in Sweden’s growth regions. As of 31 December 2019, we owned 209 properties with total value of SEK 38,310 m. Kungsleden (KLED) is listed on the Nasdaq Stockholm Large Cap. Read more at www.kungsleden.se