March 23, 2020 / 12:13 PM / 16 days ago

BRIEF-H&M Cancels Dividend

March 23 (Reuters) - H & M Hennes & Mauritz AB:

* THE BOARD OF DIRECTORS OF H & M HENNES & MAURITZ AB PROPOSES TO THE 2020 ANNUAL GENERAL MEETING THAT THE DIVIDEND IS CANCELLED

* WILL PROVIDE INFORMATION ABOUT EXPECTED FINANCIAL EFFECTS ON CURRENT QUARTER IN THREE-MONTH REPORT WHICH IS TO BE PUBLISHED ON 3 APRIL

* TOTAL OF 3,441 OF GROUP’S 5,062 STORES ARE CLOSED, WHICH TOGETHER WITH SUBDUED DEMAND IN MARKETS THAT ARE STILL OPEN, HAS HAD SIGNIFICANT NEGATIVE IMPACT ON SALES SO FAR IN MARCH

* BOARD HAS TODAY DECIDED TO WITHDRAW ITS EARLIER DIVIDEND PROPOSAL OF SEK 9.75 PER SHARE, APPROXIMATELY SEK 16 BILLION IN TOTAL, AND IS INSTEAD PROPOSING TO 2020 ANNUAL GENERAL MEETING THAT NO DIVIDEND IS PAID Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below