Epiroc Board Proposes Partial Dividend Payment Due to Pandemic
Epiroc's Board of Directors has proposed to the Annual General Meeting that only the first installment of the dividend be decided, postponing the decision on the second installment due to economic uncertainty from Covid-19.
Stockholm, Sweden – Epiroc AB's Board of Directors has proposed to the company's Annual General Meeting that a decision be made regarding the first installment of the dividend, while postponing the decision on the planned second installment for the 2019 fiscal year. The announcement was made on April 22, 2020.
The company's proposal is to pay the first installment of the dividend at SEK 1.20 per share. Epiroc stated that its financial position remains strong and its assessment of dividend capacity has not changed.
The decision to postpone the second dividend installment is attributed to the increased economic uncertainty stemming from the Covid-19 pandemic. The Board plans to call for an extraordinary general meeting later in the year to decide on the second installment, should the situation permit.
Epiroc is a global productivity partner to the mining and infrastructure industries. The company develops, produces, and markets drill rigs, rock excavation and construction equipment, and tools. Headquartered in Stockholm, Sweden, Epiroc reported revenues of SEK 41 billion in 2019.