KONECRANES PLC inside information MAY 11, 2020 at 9:00 a.m. EEST
KOnecranes’ BOARD OF DIRECTORS CHANGES ITS DIVIDEND PROPOSAL
The Board of Directors of Konecranes Oyj has decided to convene the Annual General Meeting (AGM) to be held on June 11, 2020. The Notice to convene the AGM will be published as a separate stock exchange release on May 11.
As communicated earlier, Konecranes decided to cancel its AGM originally scheduled for March 26, 2020 based on the development of the COVID-19 pandemic and the announcements by the Finnish Government to limit public gatherings. Due to the unprecedented situation and uncertainty related to the pandemic and its future impacts on Konecranes’ business, the Board of Directors has decided to change its dividend proposal to the AGM.
The Board proposes to the AGM that a dividend of EUR 0.65 per share be paid from the distributable assets of the parent Company.
The Board also proposes to the AGM that the Board be authorized, in addition to the resolution above, to further decide at its discretion on the distribution of dividend in one or several instalments so that the total amount of the dividend distribution based on this authorization shall not exceed EUR 0.55 per share. The authorization is valid until the opening of the next AGM. The total aggregate dividend for the financial period 2019 based on the resolution of the AGM and possible decisions by the Board on the payment of dividend based on the authorization would thus be limited to a maximum of EUR 1.20 per share. The Company will publish the Board's possible decisions on dividend payment separately.
Vice President, Investor Relations
Eero Tuulos, Vice President, Investor Relations, tel. +358 20 427 2050
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2019, Group sales totaled EUR 3.33 billion. Including MHE-Demag, the Group has around 18,000 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).