DGAP-Adhoc: Befesa S.A.: Befesa proposes modified dividend resolution

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: [e-mail] 
Phone: [phone] 
 
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:      [e-mail] 
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)