H&M: dividend to be cancelled
(CercleFinance.com) - H&M's board has decided to withdraw its dividend proposal of 9.
75 Swedish kronor per share, representing a total payout of 16 billion Swedish kronor (about 1.5 billion euros), proposing that it will pay no dividend at all.
In a statement, the budget fashion retailer cited "an extraordinary situation" in which it has been forced to make "difficult decisions."
"I am convinced that this is the best decision in this situation in order to further strengthen the company's already strong financial position and thereby secure our freedom of action going forward," said Stefan Persson, its board chairman.
At present, a total of 3,441 of the group's 5,062 stores are closed.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
75 Swedish kronor per share, representing a total payout of 16 billion Swedish kronor (about 1.5 billion euros), proposing that it will pay no dividend at all.
In a statement, the budget fashion retailer cited "an extraordinary situation" in which it has been forced to make "difficult decisions."
"I am convinced that this is the best decision in this situation in order to further strengthen the company's already strong financial position and thereby secure our freedom of action going forward," said Stefan Persson, its board chairman.
At present, a total of 3,441 of the group's 5,062 stores are closed.
Copyright (c) 2020 CercleFinance.com. All rights reserved.