The Board of Directors of AAK AB (publ.) Proposes to Postpon
KARLSHAMN, Sweden, March 30, 2020 /PRNewswire/ -- The ongoing corona pandemic is profoundly impacting people's health, societies, and business operations across the world. As a supplier of ingredients to the crucial food supply chain, AAK has a very important role to play right now. All of the company's production plants around the world have strong contingency plans in place to secure operations and inbound/outbound logistics so that food manufacturers can maintain their production of food products.
To date, AAK has not experienced any material business disruptions. Food supply will remain essential and a top priority going forward. However, the volatility and uncertainty in every step of the supply chain have increased within all industries that AAK serves.
AAK has a robust foundation with a strong financial track record and a solid balance sheet. However, as an additional precaution due to the current situation, the Board of Directors of AAK proposes to postpone the decision on the dividend for 2019*.
"With AAK's solid financial position our assessment is that the previously proposed dividend could still be justified," says Georg Brunstam, Chairman of the Board. "However, the Board of Directors is of the opinion that a resolution on dividend should be made at an extraordinary general meeting later this year when the effects of the corona pandemic have become clearer and market conditions hopefully have stabilized."
*The dividend proposal for 2019 was SEK 2.10 per share.
This information is information that AAB AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Act. The information was submitted for publication, through the agency of the contact person set out above, at 8:30 p.m. CET on March 30, 2020.
AAK is a leading provider of value-adding vegetable oils & fats. Our expertise in lipid technology within foods and special nutrition applications, our wide range of raw materials and our broad process capabilities enable us to develop innovative and value-adding solutions across many industries - Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice, Personal Care, and more. AAK's proven expertise is based on more than 140 years of experience within oils & fats. Our unique co-development approach brings our customers' skills and know-how together with our own capabilities and mindset for lasting results. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has more than 20 different production facilities, sales offices in more than 25 countries and more than 3,800 employees. We are AAK - The Co-Development Company.
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SOURCE AAK AB