DGAP-Adhoc: Fielmann AG: Executive Board and Supervisory Board decide on recommendation to suspend dividend payment
DGAP-Ad-hoc: Fielmann AG / Key word(s): Dividend
Fielmann AG: Executive Board and Supervisory Board decide on recommendation to suspend dividend payment
31-March-2020 / 11:01 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.
On 20 February 2020, the Executive Board and the Supervisory Board of Fielmann Aktiengesellschaft had announced their recommendation for a dividend payout for the 2019 financial year of €1.95 per share to the Annual General Meeting. This recommendation, in line with Fielmann's long-standing shareholder-friendly dividend policy, was based on the positive development of 2019, but it took place before the spread of the Covid-19 pandemic in Germany.
As the Covid-19 pandemic will probably continue to have a significantly negative impact on unit sales, sales and profits of the company, the Executive Board and the Supervisory Board have revised their aforementioned recommendation due to the unique circumstances and are now recommending a suspension of the dividend for the financial year 2019 to the Annual General Meeting in order to secure the available liquidity instead.
After the situation normalises, Fielmann AG intends to return to its shareholder-friendly dividend policy.
As the Covid-19 pandemic will probably continue to have a significantly negative impact on unit sales, sales and profits of the company, the Executive Board and the Supervisory Board have revised their aforementioned recommendation due to the unique circumstances and are now recommending a suspension of the dividend for the financial year 2019 to the Annual General Meeting in order to secure the available liquidity instead.
After the situation normalises, Fielmann AG intends to return to its shareholder-friendly dividend policy.
31-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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1011441 31-March-2020 CET/CEST