DGAP-Adhoc: Covestro AG: Covestro proposes a dividend of EUR 1.20 per share for fiscal 2019
DGAP-Ad-hoc: Covestro AG / Key word(s): Dividend
Covestro AG: Covestro proposes a dividend of EUR 1.20 per share for fiscal 2019
19-May-2020 / 12:43 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
At its meeting today, the Board of Management of Covestro AG has decided to propose a dividend of EUR 1.20 per share for the 2019 fiscal year to the Annual General Meeting and to carry the remainder of the distributable profit forward to new account.
The Annual General Meeting is scheduled to take place as a virtual event on July 30, 2020.
The Board of Management had previously proposed a dividend of EUR 2.40 per share to the Annual General Meeting that was originally planned in Bonn, Germany, on April 17, 2020. The Board of Management currently focuses on securing the company's liquidity and credit rating. As a result of the global coronavirus pandemic, the Board of Management expects significantly lower earnings in fiscal 2020, as detailed in the Q1 2020 interim statement. Despite the economically challenging times, Covestro continues to allow its shareholders to participate in the success of the company. Based on yesterday's Xetra closing price of the Covestro share of EUR 30.49, this dividend proposal equals a dividend yield of 3.9%.
Forward-looking statements
This ad-hoc statement may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Contact for investors:
Ronald Köhler, Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com
Contact for media:
Lars Boelke, Global Corporate Media Relations
Phone: +49 214 6009 4206
E-mail: lars.boelke@covestro.com
The Annual General Meeting is scheduled to take place as a virtual event on July 30, 2020.
The Board of Management had previously proposed a dividend of EUR 2.40 per share to the Annual General Meeting that was originally planned in Bonn, Germany, on April 17, 2020. The Board of Management currently focuses on securing the company's liquidity and credit rating. As a result of the global coronavirus pandemic, the Board of Management expects significantly lower earnings in fiscal 2020, as detailed in the Q1 2020 interim statement. Despite the economically challenging times, Covestro continues to allow its shareholders to participate in the success of the company. Based on yesterday's Xetra closing price of the Covestro share of EUR 30.49, this dividend proposal equals a dividend yield of 3.9%.
Forward-looking statements
This ad-hoc statement may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Contact for investors:
Ronald Köhler, Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com
Contact for media:
Lars Boelke, Global Corporate Media Relations
Phone: +49 214 6009 4206
E-mail: lars.boelke@covestro.com
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