Investment firm Industrivarden to hold back on dividend until 2021
27/10/2020 12:04
STOCKHOLM, Oct 27 (Reuters) - Swedish investment firm
Industrivarden INDUa.ST on Tuesday said it will not decide on
a dividend for 2019 until next year due to continued economic
uncertainty caused by the COVID-19 pandemic.
"Due to continued uncertainty ... and the fact that
dividends from the portfolio companies have largely not
transpired in 2020, the Board of Directors has decided not to
convene ... during the current year to decide on a dividend,"
the company's board of directors said in a statement.
Industrivarden, which owns stakes in companies such as AB
Volvo VOLVb.ST , Sandvik SAND.ST and Ericsson ERICb.ST ,
plans to submit its proposed dividend for 2020 when its annual
report is published in February 2021, the board said.
Earlier this year, the holding company withdrew its dividend
proposal in April as the pandemic hit, but said at the time it
had the ambition to revisit the issue during the autumn.
(Reporting by Colm Fulton, editing by Niklas Pollard)
((Colm.Fulton@thomsonreuters.com;))