Scandic Hotels Group AGM decides no dividend for 2023

Scandic Hotels Group held its annual general meeting on May 16, 2024, where key decisions were made regarding the company's financial and governance matters.

The meeting resolved, in accordance with the board of directors' proposal, that no dividend will be paid to shareholders for the financial year 2023. The earnings for the year will be carried forward.

Several board members were re-elected, including Per G. Braathen as Chair of the Board. Michael Levie and Frank Veenstra were elected as new members. The auditing firm Öhrlings PricewaterhouseCoopers AB was re-elected as the company's auditor.

Additionally, the general meeting adopted guidelines for remuneration to senior executives and approved a long-term incentive program. This program is designed to include up to 80 participants, primarily within the executive committee and other key employees.

The meeting also granted the board of directors an authorization to issue new shares and/or warrants and/or convertibles. This authorization allows for potential share capital increases of up to 10 percent and provides flexibility for implementing the incentive program, including the potential repurchase and transfer of own shares.