Selvaag Bolig ASA: Selvaag Bolig reduces dividend for second half of 2019
The board of Selvaag Bolig ASA has resolved today to propose to the annual general meeting that thepreviously announced dividend for the second half of 2019 will be reduced from NOK 3.00 per share to NOK 1.50.
This decision has been taken as a result of the uncertainty created by the effects of the Covid-19 pandemic.
Selvaag Bolig has a strong balance sheet and good liquidity, and the decision does not signal any change in its dividend policy.
The board emphasises that this decision does not reflect a weakening housing market, but is motivated by the desire to display a very cautious approach to the conditions which the world is now experiencing. Housing sales for the company have been satisfactory in recent weeks.
The AGM of Selvaag Bolig ASA will be held on 24 April 2020.
Further information from
Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: firstname.lastname@example.org
Kristoffer Gregersen, vice president communication and marketing, Selvaag Bolig ASA
Telephone: +47 957 75 593, e-mail: email@example.com
Rolf Thorsen, CEO, Selvaag Bolig ASA
Telephone: +47 901 19 373, e-mail: firstname.lastname@example.org
Selvaag Bolig ASA is a residential property developer which controls the entire value chain from acquisition of land to sale of turnkey homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 70-year history and experience, and offers a broad variety of property types. The company’s head office is at Ullern in Oslo.
This information is subject to the disclosure requirements specified in section 5-12 of the Norwegian Securities Trading Act.