Withdrawal of Dividend Proposal and Unchanged Board fees
The Saab Board of Directors confirms its assessment of the company’s dividend capacity for the financial year 2019 but due to the uncertainty the COVID-19 outbreak creates in the surrounding world, the Board has decided to withdraw its dividend proposal to the Annual General Meeting. When the situation can be better analysed, the Board can assess the possibility of a new dividend proposal for 2019.
Saab’s Annual General Meeting is to take place on April 1, 2020. In its dividend motivation, the Saab Board of Directors assesses the company’s 2019 dividend capacity to not affect Saab’s ability to carry out its short-and long-term commitments. This assessment still stands, but due to the uncertainty in the surrounding world, the Board has now withdrawn its dividend proposal. The Board proposes that no dividend should be made now.
Saab has a robust financial position in terms of capital and liquidity. With the worsening COVID-19 situation and the impact it has on people’s health and the global economy, the Board’s assessment is that measures should be taken to further enhance readiness and manoeuvrability for the future. The Board’s assessment of Saab’s dividend capacity remains unchanged. When the situation can be better analysed, the Board can assess the possibility of a new dividend proposal for 2019.
This far, the impact of COVID-19 on Saab has been low, given the company’s large order backlog and business model with long-term commitments. However, the company cannot exclude future impact on its business if the current disruption in world trade is prolonged.
Moreover, Saab’s Nomination Committee has decided to withdraw the proposal to the Annual General Meeting on an increase of the Board fees. The Nomination Committee proposes that the Board fees remain unchanged from 2019.
For further information, please contact:
Saab Press Centre,
Ann Wolgers, Press Officer
+46 (0)734 180 018,
presscentre@saabgroup.com
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Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.
The information is such that Saab AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 30 March 2020 at 08:30 hrs (CET).