AB SKF’s Board of Directors proposes changed dividend

Gothenburg, 23 March 2020: As a precautionary measure in this uncertain economic environment, the Board of Directors of AB SKF has decided to propose to the Annual General Meeting that the dividend be changed from SEK 6.25 per share to SEK 3.00 per share.

The Board’s current intention is to call for an extraordinary general meeting during the second half of the year to consider and decide upon the remaining dividend payment.  

SKF’s financial strength, liquidity and overall position is strong. The proposal announced today reflects the Board’s ambitions to make sure SKF continues to be able to act in a decisive way to counteract the impact of actions taken by authorities and customers in this uncertain situation.

Aktiebolaget SKF

      (publ)

The information in this press release is information which AB SKF is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014 The information was provided by the above contact persons for publication on 23 March 2020 at 18:30.

For further information, please contact:
PRESS: Theo Kjellberg, Director, Press Relations
tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com

SKF’s mission is to be the undisputed leader in the bearing business. SKF offers solutions around the rotating shaft, including bearings, seals, lubrication, condition monitoring and maintenance services. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2019 were SEK 86 013 million and the number of employees was 43,360. www.skf.com

® SKF is a registered trademark of the SKF Group.