Trelleborg, Sweden – Trelleborg AB’s board of directors has decided to withdraw the group's previous dividend proposal and instead propose that the annual general meeting resolves that no dividend will be paid.
The Swedish group will readdress the issue “when the market has stabilised, and visibility of earnings has normalised,” it announced in a 14 April statement.
Trelleborg said it aimed to call an extraordinary general meeting later this year to decide on a dividend for the 2019 fiscal year, noting that the delay would not change its dividend policy.
The decision was made due to “the increased economic uncertainty” in the aftermath of Covid-19 outbreak, and the public measures taken to slow down the spread of the virus globally, the group added.
Trelleborg is holding its annual general meeting on 23 April.