Essity : Board of Directors proposes postponement of dividend decision
March 30, 2020 at 01:08 pm EDT
Share
At the Annual General Meeting on April 2, 2020, the Board of Directors will propose that the Meeting postpones a decision regarding the dividend for 2019 until an Extraordinary General Meeting no later than November 2020. The Board of Directors' previous assessment of a dividend of SEK 6.25 per share remains. The final assessment on the size of the dividend will, however, be taken at a later date when the effects of the current COVID-19 pandemic are better understood.
Essity had a very strong 2019 in terms of earnings and market development. Moreover, Essity has a robust financial position and a solid funding situation. Earlier periods of declining activity in the global economy have had a limited impact on the company. The Board of Directors is therefore of the opinion that the company is well positioned for a possible global economic slowdown.
The rapid spread of COVID-19 and related current and any future countermeasures mean the level of uncertainty in future forecasts is much greater than normal. The Board of Directors' recommendation to postpone the dividend decision was made against this background.
NB: This is information that Essity is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on March 30, 2020 at 7:00 p.m.
Karl Stoltz, Media Relations Manager, +46 8 788 51 55
Attachments
Original document
Permalink
Disclaimer
Essity AB (publ) published this content on 30 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2020 17:07:03 UTC
Essity AB is one of the world's leading manufacturers of hygiene products. Net sales break down by family of products as follows:
- human care products (40.3%): incontinence products (Tena), feminine protection products (Libresse, Bodyform, Nana, Nuvenia, Saba, Nosotras, Donnasept, etc.), diapers (Libero, Up & Go, Libero-Peaudouce, Drypers, Pequenin, etc.), compresses and bandages.
- paper hygiene products (32.6%): paper towels, toilet paper, handkerchiefs, wipes, etc. sold under Tempo, Colhogar, Cozy, Cushelle, Danke, Delica, Demak Up, Favorita, Flen, Lotus, Lovly, Okay, Plenty, Regio and Zewa brands;
- professional hygiene products (26.8%): including toilet paper, handkerchiefs, hand lotions and hand soaps, hand sanitizers, as well as cleaning and wiping products;
- other (0.3%).
At the end of 2023, the group operated around 70 production sites in the world.
Net sales are distributed geographically as follows: Europe (60.3%), North America (17.4%), Latin America (17.1%), Asia (1.6%), and other (3.6%).