ÅF Pöyry withdraws proposed dividend due to COVID-19 and extend credit facilities
Given the development of the COVID-19 outbreak, the market situation is uncertain and difficult to assess. In order to further strengthen the company’s financial position, the ÅF Pöyry Board of Directors has decided today to withdraw the earlier proposed dividend of SEK 5 per share.
The decision has been taken as a precaution to secure ÅF Pöyry AB’s position in the future, as well as assuring operational and financial strength when the situation at the market has stabilised. ÅF Pöyry has a broad exposure to several industries and markets, and historically this has made the company less volatile in challenging times.
Furthermore, as of March 18, 2020, ÅF Pöyry AB renewed the company's credit facilities through its main banks SEB and Handelsbanken. A multi-currency credit of SEK 1,000m agreed upon previously was increased to SEK 1,500m and extended by 3 years. ÅF Pöyry AB has also replaced senior unsecured bonds of SEK 700 million with a three-year term loan of SEK 500 million as of May 2020.
ÅF Pöyry AB (publ)
For further information, please contact:
Cathrine Sandegren, EVP and Head of Communications and Brand
+46 70 292 68 26
This information is information that ÅF Pöyry AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 24 March 2020, at 2.00 CET.
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