Kungsleden’s Board of Directors proposes reintroducing dividend for 2019
The Board of Directors of Kungsleden has proposed reintroducing the dividend to shareholders of SEK 2.60 per share for the 2019 financial year and has therefore decided to summon the shareholders to an Extraordinary General Meeting. The notice to attend will be sent at a later date.
In April 2020, the Board of Directors decided to withdraw its proposal for a dividend for the 2019 financial year. The Board had intended to wait until it was possible to gain a better overview of the consequences of the COVID-19 pandemic and, if conditions allowed, to hold an Extraordinary General Meeting in the autumn of 2020.
To date, the pandemic has had very limited impact on Kungsleden’s operations, and profit from property management for the first half of the year rose 6 per cent. We are witnessing a recovery in the market, strong demand in the rental and transaction markets, and significantly improved conditions for financing in the capital market. The Board of Directors therefore sees no need to deviate from the current dividend policy and has decided to reintroduce the proposal for a dividend and hold an Extraordinary General Meeting. The Board will propose to the meeting that the proposed dividend of SEK 2.60 per share for the 2019 financial year, determined in connection with closing the books for 2019, be reintroduced. Two instalments for the dividend will be proposed, in October 2020 and January 2021.
“Kungsleden enjoys a strong financial position with good access to cash and cash equivalents, unutilised credit facilities and a low proportion of short-term loans falling due. In the third quarter, a total of SEK 1 billion has been borrowed on the capital market, which has further improved an already strong liquidity position. With a good view of the limited effects of the pandemic, we therefore wish to propose a dividend for our shareholders once again,” says Charlotte Axelsson, Chairman of the Board of Kungsleden.
For more information, please contact:
Charlotte Axelsson, Chairman of the Board, Kungsleden | +46 70 222 64 88 | charlotte.axelsson@kungsleden.se
This information is information that Kungsleden AB (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 12:15 p.m CET on 3 September 2020.
About Kungsleden. We are people that create places and experiences for people. By developing and managing attractive and sustainable places, we offer people better and more inspiring work experience. We are a long-term property owner focused on commercial properties in Sweden’s growth regions. As of 30 June 2020, we owned 210 properties with total value of SEK 39,387 m. Kungsleden (KLED) is listed on the Nasdaq Stockholm Large Cap. Read more at www.kungsleden.se