Brief: Pfeiffer Vacuum suspends outlook, pares dividend

Pfeiffer Vacuum Technology AG

25/03/2020 16:13

March 25 (Reuters) - Pfeiffer Vacuum Technology AG  PV.DE :
    * PFEIFFER VACUUM TECHNOLOGY AG: PFEIFFER VACUUM TECHNOLOGY
AG
ANNOUNCES DIVIDEND PROPOSAL AND OUTLOOK SUSPENSION DUE TO
COVID-19 PANDEMIC
    * DECIDED TODAY TO PROPOSE A DIVIDEND OF EUR 1.25 PER SHARE
    * ANNOUNCES DIVIDEND PROPOSAL AND OUTLOOK SUSPENSION DUE TO
COVID-19 PANDEMIC
    * MANAGEMENT AND SUPERVISORY BOARD OF PFEIFFER VACUUM
TECHNOLOGY
AG ("PFEIFFER VACUUM") DECIDED TODAY TO PROPOSE A DIVIDEND OF
EUR 1.25 PER SHARE TO ANNUAL GENERAL MEETING, REFLECTING A
PAYOUT RATIO OF 25.5% OF DISTRIBUTABLE PROFIT FOR FISCAL YEAR
2019 (PREVIOUS YEAR: EUR 2.30 DIVIDEND; PAYOUT RATIO 33.0%)
    * DECISION TO DECREASE DIVIDEND COMPARED TO LAST YEAR WAS
MADE
AGAINST BACKDROP OF INCREASED EXPENSES RELATED TO IMPLEMENTATION
OF PFEIFFER VACUUM'S GROWTH STRATEGY, AND UNKNOWN IMPACTS OF
COVID-19 PANDEMIC ON WORLD ECONOMY AND BUSINESS
    * STATEMENTS MADE FOR FISCAL YEAR 2020 IN OUTLOOK SECTION OF
2019
ANNUAL GENERAL REPORT ARE NO LONGER VALID, DUE TO UNCERTAIN
IMPACT OF TO COVID-19 PANDEMIC. AN UPDATE OF OUTLOOK IS
CURRENTLY NOT POSSIBLE DUE TO RAPID DEVELOPMENTS

Further company coverage:  PV.DE 

 (Reporting by Frankfurt Newsroom)
 ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;))