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Wallenstam to withdraw FY'19 dividend proposal

Wallenstam AB (publ) will withdraw its proposal to pay a dividend of 1.90 Swedish kronor per share for the 2019 financial year amid the uncertainty brought by the coronavirus pandemic.

The Swedish property company will instead propose to the annual general meeting on April 28 that no dividend shall be paid for 2019 as a precautionary measure against the uncertain economic situation brought by the outbreak.

Wallenstam previously proposed paying the dividend in two tranches — 95 Swedish öre per share in both May and November.

Once the pandemic-related uncertainty subsides, the company will consider calling an extraordinary general meeting in the second half of 2020 and submit a proposal for a dividend and its size.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.

As of April 1, US$1 was equivalent to 10.02 Swedish kronor.