Brief: Ferronordic Updates Its Financial Objectives And Dividend Policy

Ferronordic AB

19/02/2021 06:33

Feb 19 (Reuters) - Ferronordic AB  FNMA.ST :
    * FERRONORDIC UPDATES ITS FINANCIAL OBJECTIVES AND DIVIDEND
POLICY
    * FERRONORDIC'S FINANCIAL OBJECTIVES HAVE BEEN UPDATED TO:
DOUBLE
2020 REVENUE IN ITS CURRENT MARKETS BY 2025
    * FINANCIAL OBJECTIVES HAVE BEEN UPDATED TO: OPERATING
MARGIN
ABOVE 7%
    * FINANCIAL OBJECTIVES HAVE BEEN UPDATED TO: NET DEBT/EBITDA
BELOW
3 TIMES (OVER A BUSINESS CYCLE)
    * DECIDED ON A NEW DIVIDEND POLICY, ACCORDING TO WHICH
AMBITION
SHOULD BE TO PAY AT LEAST 50% OF NET INCOME IF NET DEBT/EBITDA
IS LESS THAN 1.0 X, POST DIVIDEND PAYMENT, AND TO PAY AT LEAST
25% IF NET DEBT/EBITDA IS MORE THAN 1.0 X

Source text for Eikon:  ID:nWkrcg13RN 
Further company coverage:  FNMA.ST 

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