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Healthcare

BRIEF-Signify Suspends 2020 Outlook And Withdraws Dividend Proposal

March 27 (Reuters) - SIGNIFY NV:

* SIGNIFY PROVIDES UPDATE ON DEVELOPMENTS RELATED TO THE CORONAVIRUS

* HAS TAKEN CONSIDERABLE ACTION FOCUSED ON HEALTH AND SAFETY OF ITS EMPLOYEES, ON CUSTOMER ENGAGEMENT AND SUPPLY CHAIN CONTINUITY AND ON FREE CASH FLOW GENERATION AND OPERATING EXPENSES

* GIVEN HIGH LEVEL OF GLOBAL UNCERTAINTY AND VERY LIMITED VISIBILITY ON HOW THIS CRISIS MIGHT UNFOLD, SIGNIFY HAS DECIDED TO SUSPEND ITS FINANCIAL OUTLOOK FOR 2020 AS ANNOUNCED ON JANUARY 31, 2020

* HAS DECIDED TO WITHDRAW PROPOSAL TO PAY A DIVIDEND OF EUR 1.35 PER SHARE TO ENSURE RESILIENCE DURING THIS PERIOD OF MARKET UNCERTAINTY AND TO FURTHER STRENGTHEN COMPANY’S FINANCIAL POSITION

* OUTLOOK SUSPENDED AND DIVIDEND PROPOSAL WITHDRAWN

* ONCE MARKET CONDITIONS HAVE STABILIZED, SIGNIFY WILL REVISIT ITS CAPITAL ALLOCATION TO SHAREHOLDERS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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