Previously proposed dividends are withdrawn due to the uncertainty surrounding covid-19
In view of the uncertainty and impact that covid-19 brings globally, and thus in all markets where Proact has operations, the Board of Directors proposes that the previously proposed dividend of SEK 4.15 per share (approximately SEK 38 million) be withdrawn in full. The Board will therefore propose to the Annual General Meeting on 6 May that no dividend be paid for the 2019 financial year.
Proact has a stable financial position with good liquidity and the Board's proposal is based solely on the uncertainty caused by covid-19. The company is well positioned in a market that is also characterised by rapid change with a focus on digital transformation and innovation. This change is largely focused on data and information management, which is becoming increasingly business critical, and where Proact has long been a well-established specialist.
As a result of covid-19, the company has taken the operational measures that the situation requires focusing on being able to deliver products and services with maintained quality to our customers while ensuring the health of our employees, customers and partners.
At present, it is not possible to determine how large or long-lasting the effect covid-19 entails. Consequently, the company prioritises good cash flows and liquidity until the situation clears.
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Proact is Europe’s leading independent data centre and cloud services provider. By delivering flexible, accessible and secure IT solutions and services, we help companies and authorities reduce risk and costs, whilst increasing agility, productivity and efficiency. We’ve completed over 5,000 successful projects around the world, have more than 3,500 customers and currently manage in excess of 100 petabytes of information in the cloud. We employ over 1,000 people in 15 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), listed on Nasdaq Stockholm in 1999 (under the symbol PACT).
For further information about Proact’s activities please visit us at www.proact.eu