STOCKHOLM, March 30, 2020 /PRNewswire/ -- The Board considers that the ongoing global Covid-19 pandemic involves considerable uncertainty about the future market situation. ASSA ABLOY's financial position is strong and the Group has initiated cost saving measures to counter the uncertain market situation.
In the Quarterly Report for the fourth quarter 2019 and in the Annual Report 2019, the Board has communicated its proposal of a dividend of SEK 3.85 per share for the financial year 2019. In light of the uncertainty in the market caused by the Covid-19 pandemic the Board has today, as a precautionary measure, decided to revise its dividend proposal.
The Board proposes a first dividend of SEK 2.00 per share to be decided at the Annual General Meeting on April 29, 2020. It is the clear ambition of the Board to propose a second dividend of SEK 1.85 per share later during 2020 when the consequences of the Covid-19 pandemic can be better assessed and given that the financial position of the Group allows this. In this event the Board will convene an Extraordinary General Meeting.
As previously communicated ASSA ABLOY's Annual General Meeting is intended to be held on April 29, 2020, subject to no restrictions from the authorities which prevents this, are imposed. ASSA ABLOY will take a number of precautionary measures in connection with the Annual General Meeting in consideration of the health and safety of our shareholders, employees and other stakeholders. These measures include that no food or beverages will be served, that there will be no display of products, that the CEO speech will be substantially shortened and that shareholders are encouraged to appoint a proxy holder to vote on their behalf as far as possible.
This information is information that ASSA ABLOY AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 13.10 CET on 30 March 2020.
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 49,000 employees and sales of SEK 94 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46-8-506-485-82
Erik Pieder, CFO and Executive Vice President, tel. no: +46-8-506-485-72
Björn Tibell, Head of Investor Relations, tel. no: +46-70-275-67-68
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SOURCE ASSA ABLOY