DGAP-Ad-hoc: Befesa S.A. / Key word(s): Dividend/AGM/EGM
Befesa S.A.: Befesa proposes modified dividend resolution
29-Apr-2020 / 18:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*AD HOC ANNOUNCEMENT*
*Befesa proposes modified dividend resolution*
The board of Befesa today resolved to propose a modified dividend resolution
to the AGM which is scheduled to take place on 18 June 2020.
In light of the current developments of the Covid-19 pandemic, the board
resolved to propose a dividend of EUR 0.44 per share equal to EUR 15 million
for distribution in July and to allocate the remainder of the distributable
profit to available reserves. Furthermore, the board will review an
additional dividend distribution in November once the company has better
visibility on the impact of Covid-19 on the earnings and cash flow
development over the first three quarters of 2020. The overall aim of the
board proposal is to conservatively balance dividend stability and cash
flow. Befesa's policy of distributing as a dividend approximately 40 to 50%
of the previous year's net reported profit remains unchanged.
Befesa will present the results for Q1 2020 as well as a guidance for the FY
2020 and hold an analyst conference call as scheduled on Thursday, 30 April
2020, at 9:00 CEST.
Contact:
*Investor Relations*
Rafael Pérez
Director of Investor Relations and Strategy
Email: irbefesa@befesa.com
Phone: +49 2102 1001 0
29-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Befesa S.A.
46 Boulevard Grande-Duchesse Charlotte
1330 Luxembourg
Luxemburg
E-mail: irbefesa@befesa.com
Internet: www.befesa.com
ISIN: LU1704650164
WKN: A2H5Z1
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange; London
EQS News ID: 1033239
End of Announcement DGAP News Service
1033239 29-Apr-2020 CET/CEST
(END) Dow Jones Newswires
April 29, 2020 12:15 ET (16:15 GMT)
