March 20, 2020 / 11:13 AM / 12 days ago

BRIEF-Duni Withdraws Dividend Proposal, Starts Cost Reduction

March 20 (Reuters) - Duni AB:

* DUNI GROUP IS TAKING ACTION TO DEAL WITH THE EFFECTS OF THE COVID-19 PANDEMIC AND TO PROPOSE THE AGM TO WITHDRAW THE PAYMENT OF THE DIVIDEND

* COST-REDUCTION PROGRAM IS NOW ALSO BEING LAUNCHED IN ORDER TO MEET A CONSIDERABLE DROP IN DEMAND AS A CONSEQUENCE OF PANDEMIC

* ON CORONAVIRUS: IMPACT ON FOLLOWING QUARTERS IS DEPENDING ON HOW PANDEMIC DEVELOPS

* TO PROPOSE TO AGM THAT SHARE DIVIDEND OF SEK 5 PER SHARE FOR 2019, WHICH HAS ALREADY BEEN ANNOUNCED, SHOULD BE CANCELED AND THEREFORE NO DIVIDEND SHALL BE PAID

* ON CORONAVIRUS: DROP IN DEMAND FROM THESE CUSTOMER SEGMENTS IS EXPECTED TO RESULT IN NEGATIVE EFFECTS ON SALES DURING Q2 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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