VBG Groups Board of Directors has decided to withdraw its dividend proposal to the Annual General Meeting 2020
Due to the uncertainty the Covid 19 outbreak creates all over the world, the Board has decided to withdraw its dividend proposal, of 5,00 SEK per share, to the Annual General Meeting 2020.
During 2019, VBG Group strengthen its financial position. Equity and the equity/assets ratio increased, net indebtedness decreased and liquidity in the Group was strengthened. As a result of, VBG Group’s stable financial position at year end, the Board proposed and increased ordinary dividend of SEK 5.00 per share and no extra dividend of to be approved by the Annual General Meeting, with a record date of 30 April 2020.
The impact of the corona virus outbreak and its economic impact is currently difficult to predict. Due to the economic uncertainty, the Board of Directors considers that it is justifiable for reasons of caution to withdraw the dividend proposal and propose that the Annual General Meeting 2020 decides that no dividend should be distributed for 2019.
VBG Group’s Annual General Meeting will take place as announced the 28th of April at 5:00 p.m. CEST.
Due to the fact that the public health authority has increased the risk level for the spread of the new corona virus in Sweden, we choose to change premises from the company's premises to a larger premise at Quality Hotel Vänersborg Nabbensberg, 46240 Vänersborg, in order to minimize the risk of spreading the virus.
Anders Birgersson, President & CEO
Telephone: +46 521-27 77 67
VBG Group AB (publ), domiciled in Vänersborg, is the Parent company of an international engineering Group with wholly owned companies in Europe, North America, Brazil, South Africa Australia, India and China. The Group’s operations are divided into three divisions – Truck & Trailer Equipment, Mobile Climate Control and Ringfeder Power Transmission – with products that are marketed under strong, well-known brands. VBG Group AB’s Series B share was introduced on the stock exchange in 1987 and is listed today on the Nasdaq Stockholm Mid Cap list.
This information is of the type that VBG Group AB is obligated to disclose in accordance with the EU Market Abuse regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10:30 am. CEST on 16th of April 2020.