Press release
196KB
march 20, 2020 - Volvo
AB Volvo’s Board of Directors withdraws proposal of extra dividend, maintains ordinary dividend
In light of the general uncertainty and the measures taken to slow down the spread of Covid19 and their effects on the #volvo Group, the Board of Directors of AB #volvo has decided to maintain the proposal to the Annual General Meeting on April 8, 2020 of an ordinary dividend of SEK 5.50 per share, but to withdraw the proposal of an extra dividend of SEK 7.50 per share.
The #volvo Group has a strong financial position and good liquidity, but since the Board of Directors submitted its original dividend proposal the business environment has changed significantly. Many of the Group’s operations are, or will be, temporarily closed and it is currently not possible to assess the duration. In order to ensure that the #volvo Group can act from a position of strength in the current turbulent environment, the Board considers that it is prudent to maintain the proposal for the ordinary dividend, but withdraw the proposal for an extra dividend.
8a68f1e43a144ce4 org
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