DGAP-Adhoc: ProSiebenSat.1 Media SE: COVID-19 update: ProSiebenSat.1 withdraws 2020 outlook and 2019 dividend proposal
DGAP-Ad-hoc: ProSiebenSat.1 Media SE / Key word(s): Forecast/Dividend
ProSiebenSat.1 Media SE: COVID-19 update: ProSiebenSat.1 withdraws 2020 outlook and 2019 dividend proposal
22-Apr-2020 / 21:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
- Due to lack of visibility on COVID-19 related impacts and thus economic uncertainty for remainder of the year, ProSiebenSat.1 withdraws 2020 financial outlook
- Against the backdrop of the COVID-19 crisis, ProSiebenSat.1 also withdraws initial 2019 dividend proposal
- Group confirms its current dividend policy
Unterfoehring, April 22, 2020. Due to the current standstill of the global economy and consequential significant economic uncertainty, it is currently not possible for ProSiebenSat.1 Group to provide an outlook on the financial performance in the second quarter and the full-year. The Executive Board thus decided today to withdraw the financial outlook for the full-year 2020.
Furthermore, against the backdrop of the COVID-19 crisis, the Executive Board and the Supervisory Board decided today to propose to the Annual General Meeting to not pay-out a dividend for fiscal year 2019. Initially, the Company had announced to propose a dividend of EUR 0.85 per share to the Annual General Meeting. At the same time, the Group is confirming its current dividend policy with a pay-out-ratio of 50% of adjusted Group net income.
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