The Board of Directors of Sandvik has decided to withdraw the previous dividend proposal and instead propose that the Annual General Meeting on 28 April resolve that no dividend will be paid.
Sandvik has a solid balance sheet and actions are being implemented to mitigate future financial impact from the COVID-19 pandemic. However, in the view of the increased economic uncertainty and as a precautionary measure the board believes that it is justified to withdraw the dividend proposal.
When the market has stabilised and the financial position of the company so permits, it is the Board of Directors’ intention to re-evaluate the situation.
Read the article online at: https://www.globalminingreview.com/finance-business/08042020/sandviks-board-of-directors-withdraws-dividend-proposal/