Nederman Board withdraws its dividend proposal due to market uncertainties
At a board meeting held on March 20, 2020, the Board of Directors of Nederman resolved to withdraw its earlier proposal for a dividend of 2.50 SEK per share and to propose that no dividend is paid.
Given the growing uncertainty around the world due to the spread of the COVID-19 coronavirus, and the extraordinary government actions being taken to limit the spread of the virus, business activity in many markets in which Nederman operates is being impacted significantly.
Nederman is already experiencing difficulties in deliveries of goods and some customers have closed sites which is causing delays in project execution. Due to the rapidly changing situation, it is too early to quantify the potential impact on Nederman’s result for the year.
Given this uncertainty, the Board does not consider it prudent to continue with the previously announced dividend proposal at this time. It is instead the intention of the Board to review the dividend situation again later this year when the economic impact of the COVID-19 outbreak should be much clearer.
For further information, please contact:
|Sven Kristensson, CEO
Telephone: +46 42 18 87 00
|Matthew Cusick, CFO
Telephone +46 42 18 87 00
This information is information that Nederman Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:15 a.m. CET on March 20, 2020.
Nederman is a global leader in industrial air filtration dedicated to capturing, measuring, controlling and cleaning air to make industrial production more efficient, safe and sustainable. Based on industry leading products, solutions and services in combination with an innovative IoT platform we deliver knowledge and facts needed to optimise performance and guarantee emissions compliance.
The Nederman Group is listed on Nasdaq Stockholm. The Group has approximately 2300 employees and presence in more than 50 countries. Learn more at nedermangroup.com
Nederman Holding AB (publ), P.O. Box 602, SE-251 06 Helsingborg, Sweden.
Corporate registration number: 556576-4205