Electrolux: takes 'aggressive' actions, halts dividend
(CercleFinance.com) - Swedish home applicance maker Electrolux is implementing "aggressive" actions to reduce the risk to earnings and cash flow in light of the rapidly developing coronavirus outbreak.
Amongst other measures, the company's board has decided that no dividend will be paid to shareholders for fiscal year 2019.
Electrolux said it is continuously adjusting production across all regions to adapt to expected sales volumes and will temporarily close impacted factories.
However, there will be a material financial impact in 2020, it warned.
In spite of these challenging times, its Electrolux Professional unit has been listed on Nasdaq Stockholm today and the company's A and B shares have begun trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Amongst other measures, the company's board has decided that no dividend will be paid to shareholders for fiscal year 2019.
Electrolux said it is continuously adjusting production across all regions to adapt to expected sales volumes and will temporarily close impacted factories.
However, there will be a material financial impact in 2020, it warned.
In spite of these challenging times, its Electrolux Professional unit has been listed on Nasdaq Stockholm today and the company's A and B shares have begun trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.