Revised proposals regarding dividend and director fees
Owing to the prevailing uncertainty in society due to the corona virus, the Board of Directors of NCC propose that the Annual General Meeting on April 1 does not resolve on any dividend. However, the intention of the Board of Directors is to, if conditions allow, convene an Extra General Meeting later in the year to decide on a dividend. The Nomination Committee has also decided to propose that the director fees remain unchanged compared to 2019.
The Board of Directors of NCC has today resolved to withdraw its revised proposal for a dividend of 2.50 SEK per share and instead propose that the Annual General Meeting does not decide on any dividend. The intention is to convene an Extra General Meeting later this year when the consequences of the corona virus have become clearer and decide on a dividend at that time.
NCC has a strong financial position with net cash. So far NCC has experienced only limited effects from the corona virus and the business is up and running in all countries. However, it is hard to fully assess the consequences in the longer term from the pandemic as well as from the decisions taken in society to mitigate the effects on health and on the economy.
– The Board of Directors still considers that the previously proposed level of dividend is fair, but the consequences of the corona virus are hard to fully assess today and there is reason for prudence. The Board still has the ambition to convene an Extra General Meeting later this year to decide on a dividend, says Tomas Billing, Chairman of the Board of Directors of NCC.
In connection with this, the Nomination Committee of NCC has announced that they intend to propose that the director fees for 2020 remain unchanged, a change from the previous proposal.
The revised proposals will be published on NCC’s web page www.ncc.com.
The Annual General Meeting of NCC takes place on April 1,2020. For more information please see www.ncc.com.
This is the type of information that NCC AB is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on March 30, 2020 at 16:30 CET.
About NCC. Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading companies in the Nordics within construction, infrastructure and property development, with sales of SEK 58 billion and 15,500 employees in 2019. The NCC share is listed on Nasdaq Stockholm.