Södra’s AGM approves profit distribution of SEK 868 million
Södra’s Annual General Meeting (AGM) approved a distribution of SEK 868 million to members. Chairman Lena Ek was re-elected and a statement on prevailing forestry policy was adopted.
The AGM on 23 May in Norrköping approved a profit distribution of SEK 868 million (602) to members, representing 47 percent of profit before tax. The profit distribution comprises a dividend of 10 percent (8) on wood deliveries (wood supply payment), a dividend of 6 percent (4) on contributed capital, and a bonus issue of 15 percent (10).
“Being able to approve such a distribution is extremely gratifying. The results are due to several factors, including a strong market with high demand. But also to our ability to meet this market because of the investments we have made, which are now bearing fruit. None of these would have been possible without the commitment of our owners, who will now share in the results. This is the essence of the co-operative concept, and being involved at the heart of this process is nothing short of wonderful,” said Lena Ek, Södra’s Chairman. “I would also like to highlight the dedicated efforts of our employees in this process.”
80th anniversary AGM
The AGM also focused on the ongoing 80th anniversary.
“For 80 years, Södra has been developing and contributing to the prosperity of its owners, and of society. This will now form the foundation for our future – a future that increasingly needs to transition to a bioeconomy, where forestry and forest products are central to success. We are more relevant now than ever, and we are clearly celebrating the anniversary of a vital 80-year old. Forests are the future,” said Lena Ek.
The Meeting addressed 11 motions on various matters, including safer wood supplies and forestry skills. The Meeting also resolved that the number of Board members would be reduced from ten to nine, all with a 12-month term. No new members were elected to the Board.
For more information, please contact:
Gustav Tibblin, Director of Members,
Tel: +46(0)70-573 4985
E-mail: gustav.tibblin@sodra.com
Södra’s Pressroom
Tel: +46 (0)470 890 90
E-mail:press@sodra.com
Södra was founded in 1938 and is the largest forest-owner association in Sweden, with a membership of more than 51,000 forest owners. We engage in modern and responsible forestry, and operate state-of-the-art mills in which we process our raw material. Net sales in 2017 were 20.5 SEK billion and there were 3,400 employees. Through value-generating relationships and a long-term approach, Södra is leading the way for the future of sustainable forestry.
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