Dividend resolution by Södra’s AGM
Södra’s Annual General Meeting resolved to pay a dividend of SEK 1,068 million to members. Lena Ek was re-elected as Chair of the Board. Kristina Alsér and Magnus Hall were elected to the Board.
On 3 June, Södra’s Annual General Meeting resolved to adopt the Board’s proposal to distribute profit of SEK 1,068 million (1,795), corresponding to 43 percent of profit before tax. Operating profit for 2019 totalled SEK 2,582 million. The Board had previously decided not to apply for government funding for the furlough schemes introduced by Södra during the spring.
“Södra stands strong even in unsettled times and during the pandemic, we have continued to deliver essential products and services. As an economic association, the economy of the forest estate is always central and it is important that members can share the processing profits from last year’s deliveries to our mills. It is therefore gratifying that the AGM has resolved to pay a dividend,” said Lena Ek, Chair of Södra.
The profit distribution comprises a dividend of 10 percent (SEK 530 million) on wood deliveries, a dividend of 8 percent (SEK 371 million) on contributed capital and a bonus issue of 10 percent (SEK 167 million).
Due to the ongoing pandemic, the AGM was held digitally and 200 delegates were scattered across 20 locations around southern Sweden. A record amount of motions were addressed and these were also handled digitally.
The Meeting also resolved to elect Kristina Alsér and Magnus Hall as new members of the Board. The number of elected Board members is nine, all with a term of one year.
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Founded in 1938, Södra is Sweden’s largest forest-owner association, with 52,000 forest owners as its members. We conduct modern and responsible forestry, and operate state-of-the-art mills in which we process our raw material. In 2019, net sales amounted to SEK 23 billion and employees totalled 3,100. Through value-generating relationships and a long-term approach, Södra shows the way for the next generation of forestry.