Rottneros’ Board of Directors revises the dividend proposal
As a consequence of the increased uncertainty of the global economic outlook coming from the spread of the corona virus, Rottneros' Board of Directors has decided to revise the dividend proposal for the 2020 Annual General Meeting. The revised proposal implies that the ordinary dividend of SEK 0.40 /share will be maintained, while the previously proposed extra dividend of SEK 0.20 /share is cancelled. The revision should be seen as a precautionary measure in the light of increased uncertainty regarding the global economic outlook.
Rottneros Group’s balance sheet is solid. The equity/assets ratio at the end of 2019 was
58 percent. The Group's cash and cash equivalents amounted to SEK 376 million and granted and unused credit facilities to SEK 182 million. At the same time, the net debt was SEK 35 million.
The Board's previous proposal, which was published in the year-end report 2019, February 6, 2020, entailed an ordinary dividend of SEK 0.40 /share and an extra dividend of SEK 0.20 /share, a total of SEK 0.60 /share.
The Annual General Meeting will take place on April 28, 2020.
For more information please contact:
Per Lundeen, Chairman, Rottneros AB, +46 (0) 70 518 3347, per.lundeen@rottneros.com
This is information that Rottneros 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 16:00 CET on 18 March, 2020.
Rottneros AB (publ)
Box 144, 826 23 Söderhamn, Sweden
+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 325 employees and had a turnover of approximately SEK 2,4 billion in the 2019 financial year.
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