(2020-10-20) The Board of Directors of Kitron has today resolved a dividend of NOK 0.50 per share.
Kitron has historically paid annual dividends pursuant to resolutions by the annual general meeting. As a result of the corona pandemic during first half of 2020 and as a precautionary measure to safeguard the company's financial position and liquidity, the Board of Directors did not propose a dividend for the annual general meeting. In order to maintain the option to evidence shareholder value by paying dividends, the annual general meeting granted an authorization to the Board of Directors to resolve dividends of up to NOK 90 million on the basis of the annual accounts.
The Board of Directors considers the financial position of the company to be satisfactory, and that Kitron will have adequate equity and liquidity also after payment of dividend. On this basis and pursuant to the authorisation granted by the general meeting, the Board of Directors has resolved a dividend of NOK 0.50 per share, and a total of NOK 89 551 995.
The dividend will accrue to the shareholders of Kitron as of 28 October 2020, as recorded in the company's shareholder register in the Norwegian Central Securities Depository (VPS) on 30 October 2020 based on a regular T+2 settlement. The company's shares will trade on the Oslo Stock Exchange exclusive the right to receive dividend from and including 29 October 2020. The dividend is expected to be paid on or about 1 December 2020.
For further information, please contact:
Peter Nilsson, President and CEO, tel. +47 94 84 08 50
Cathrin Nylander, CFO, tel: +47 900 43 284
E-mail: investorrelations@kitron.com
About Kitron
Kitron is a leading Scandinavian electronics manufacturing services company for the Defence/Aerospace, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, Poland, China and the United States. Kitron had revenues of about NOK 3.3 billion in 2019 and has about 1 700 employees. www.kitron.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
