Rottneros' Board of Directors proposes a dividend at an Extraordinary General Meeting
The Board of Rottneros AB (publ) (“Rottneros”) proposes a dividend of 0,45 SEK per share. In view of the uncertainty caused by the corona pandemic, Rottneros has not paid any dividends for the 2019 and 2020 financial years. At the same time, the Board has continuously analyzed the global situation, market conditions and the company's financial position to see if a dividend is possible.
The upswing in the global pulp market began at the end of 2020. In 2021, demand has been strong and list prices have reached record levels. This has meant a good business development for Rottneros, which during the second quarter of 2021 was able to report a stable result of 97 MSEK EBIT and a cash flow from operating activities of 81 MSEK.
In July 2021, Rottneros entered into a new financing agreement. The bond loan, which amounted to 400 MSEK, was replaced with bank financing in the form of a long-term loan of 150 MSEK and a revolving credit facility of up to 100 MSEK. At the same time, the new financing provides the opportunity for a retroactive dividend for the years 2019 and 2020.
Rottneros has a solid financial position. As of 31 July 2021, the company's equity ratio was 66% and available liquidity was just over 400 MSEK. The proposed dividend of 0,45 SEK per share corresponds to a payment of 69 MSEK.
Rottneros' board will next week convene an extraordinary general meeting where further information on the day of the general meeting, record date, voting procedure and other information will appear.
For further information please contact:
Per Lundeen, Chairman of the Board, Rottneros AB, +46 (0) 70 518 3347, per.lundeen@rottneros.com
This is information that Rottneros is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 13.00 (CEST) on 26 August 2021.
Rottneros AB (publ)
Box 144, 826 23 Söderhamn
+46 (0)270 622 00
rottneros.com
info@rottneros.com
Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on Nasdaq Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes Rottneros Packaging AB, which manufactures fibre trays, the wood procurement company Rottneros Baltic SIA in Latvia and the forest operator Nykvist Skogs AB. The Group has about 318 employees and had a turnover of approximately SEK 2,1 billion in the 2020 financial year.
Tags: