Last checked at 6 May 2020 07:35
Change in Sampo plc’s dividend proposal
SAMPO PLC INSIDER INFORMATION 6 May 2020 at 9:35 am
Change in Sampo plc’s dividend proposal
Sampo’s Board of Directors has today decided to cancel its previous dividend proposal of EUR 2.20 per share and to announce a new proposal of EUR 1.50 per share. The decision was affected by the high level of uncertainty in the financial markets and changes in Sampo’s internal dividends.
Despite the challenging environment Sampo is committed to paying an attractive dividend and the proposal is in accordance with the Group’s dividend policy.
Furthermore, the Board has considered the recent statements by the supervisors. Sampo Group has a solid solvency and liquidity position and the Board’s view is that the proposed dividend will not jeopardize the company’s operations or ability to fulfill its obligations to the policyholders.
Adjusted for the new dividend proposal, Sampo Group’s solvency was approximately 187 per cent at the end of April 2020 (167 per cent on 31 December 2019).
The Board of Directors’ new dividend proposal to the Annual General Meeting to be held on 2 June 2020
The parent company’s distributable capital and reserves totaled EUR 7,383,547,646.18 of which profit for the financial year 2019 was EUR 1,489,678,098.42.
The Board proposes to the Annual General Meeting a dividend of EUR 1.50 per share to the company’s 555,351,850 shares. The dividends to be paid are EUR 833,027,775.00 in total. The remainder of the funds are left in the equity capital.
The dividend will be paid to the shareholders registered in the Register of Shareholders held by Euroclear Finland Ltd as the record date of 4 June 2020. The Board proposes that the dividend be paid on 11 June 2020.
No other significant changes have taken place in the company's financial position since the end of the financial year, except the decrease in the market values of investment assets as a consequence of the COVID-19 outbreak. The company's liquidity position is good and in the view of the Board, the proposed distribution does not jeopardize the company's ability to fulfill its obligations.
SAMPO PLC Board of Directors
Further information:
Jarmo Salonen Head of Investor Relations and Group Communications tel. +358 10 516 0030
Maria Silander Communications Manager, Media Relations tel. +358 10 516 0031
Mirko Hurmerinta IR & Communications Specialist tel. +358 10 516 0032
Distribution: Nasdaq Helsinki London Stock Exchange The principal media Financial Supervisory Authority www.sampo.com