February 12, 2018 / 4:21 PM / 2 months ago

BRIEF-H&M board scraps dividend reinvestment plan, proposes dividend SEK 9.75/share

Feb 12 (Reuters) - H&M:

* THE BOARD OF DIRECTORS OF H & M HENNES & MAURITZ AB IS PROPOSING TO THE 2018 AGM AN UNCHANGED CASH DIVIDEND OF SEK 9.75 (9.75) PER SHARE

* SAYS INVESTIGATION HAS SHOWN THAT REINVESTMENT PLAN WOULD BE DIFFICULT TO IMPLEMENT, BOTH FROM A TECHNICAL PERSPECTIVE AND BECAUSE OF TIME CONSTRAINTS

* SAYS CONSEQUENTLY, BOARD OF DIRECTORS HAS NOW DECIDED TO INSTEAD PROPOSE TO ANNUAL GENERAL MEETING ON 8 MAY 2018 THAT AN UNCHANGED DIVIDEND OF SEK 9.75 (9.75) PER SHARE IS PAID IN CASH

* SAYS DIVIDEND IS TO BE PAID IN TWO INSTALMENTS - ONE IN SPRING AND ONE IN AUTUMN Source text for Eikon: Further company coverage: (Reporting By Johan Ahlander)

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