Scandi Standard proposes that dividend be paid in two instalments
Scandi Standard proposes that the previously announced dividend of SEK 2.30 per share be paid in two instalments of SEK 1.15 per share. The record date for the first instalment is proposed to be Tuesday 7 May 2024 and the record date for the second instalment is proposed to be Friday 20 September 2024. Otherwise, the dividend policy remains unchanged.
Historically, Scandi Standard has paid out the dividend on one occasion. The company wants a smoother cash flow over the year and also provide investors with a more regular source of income. Against this background, the Board of Directors proposes to pay the dividend in two instalments. The company's dividend policy, to distribute approximately 60 percent of profit for the period on average over time, adjusted for items affecting comparability, remains unchanged.
The Board of Directors proposes that a dividend of a total of SEK 2.30 per share be divided into two instalments of SEK 1.15 per share. The record date for the first instalment is proposed to be Tuesday 7 May 2024 and the record date for the second instalment is proposed to be Friday 20 September 2024. The dividend will be paid on Monday 13 May 2024 (SEK 1.15 per share) and Wednesday 25 September 2024 (SEK 1.15 per share). The dividend proposed by the Board of Directors amounts to a total amount of approximately SEK 150 million.
"In recent years, Scandi Standard has generated improved profitability, which in the long run has resulted in larger dividends to shareholders. In order to strive for a more even cash flow over the year, it is proposed to pay the dividend in two instalments. This also rewards long-term shareholders and creates a more regular source of income," says Johan Bygge, Chairman of the Board of Scandi Standard.
It is proposed that paying the dividend on two occasions applies in the future, but the dividend can also be paid out on one occasion depending on the size of the dividend.
For further information, please contact:
Fredrik Sylwan, CFO: +46 706 422 304
Henrik Heiberg, Head of M&A, Financing & IR: +47 917 47 724
About Scandi Standard
Scandi Standard is the leading producer of chicken-based food products in the Nordic region and Ireland. The company produces, markets and sells processed, chilled and frozen products under the well-known brands Kronfågel, Danpo, Den Stolte Hane, Manor Farm and Naapurin Maalaiskana. Eggs are also produced and sold in Norway. Together, we are approximately 3,200 employees with annual sales of more than SEK 13 billion. For more information, see www.scandistandard.com.