Electrolux: share rises as dividend reinstated
(CercleFinance.com) - On Friday Electrolux committed itself resuming the payment of an annual dividend by paying its shareholders a coupon of seven Swedish kronor per share for FY 2019.
The Swedish household appliances group decided to suspend the payment of its annual dividend of 8.5 Swedish kronor last March, at the peak of the coronavirus crisis.
However, Electrolux explains that in the third quarter it saw a recovery in its financial performance and cash flow thanks to an improvement in demand, which it explains by the introduction of government support plans.
Unsurprisingly, the Electrolux share rose by around 3% on the Stockholm Stock Exchange after this announcement.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The Swedish household appliances group decided to suspend the payment of its annual dividend of 8.5 Swedish kronor last March, at the peak of the coronavirus crisis.
However, Electrolux explains that in the third quarter it saw a recovery in its financial performance and cash flow thanks to an improvement in demand, which it explains by the introduction of government support plans.
Unsurprisingly, the Electrolux share rose by around 3% on the Stockholm Stock Exchange after this announcement.
Copyright (c) 2020 CercleFinance.com. All rights reserved.