Biotage Board Withdraw the Dividend Proposal
UPPSALA, Sweden, April 17, 2020 /PRNewswire/ -- Following further analysis and considerations, the Board has decided to withdraw the dividend proposal of SEK 1.60 per share and instead propose that no dividend be paid in connection with the annual general meeting.
Since the Board of Directors communicated its original dividend proposal on February 7, 2020, the world situation has changed rapidly and significantly. In the light of the general uncertainty that now prevails and the measures introduced to reduce the spread of Covid-19, Biotage's Board of Directors has decided for precautionary reasons to withdraw the dividend proposal of SEK 1.60 per share and instead propose that no dividend be paid.
The Board's decision does not affect Biotages long-term dividend policy that at least 50 percent of profit after tax should be distributed to the shareholders. Biotage has a strong financial position and liquidity, and the Board sees an opportunity to call for an extraordinary general meeting later this year for deciding on a dividend for 2019.
As previously announced, the Annual General Meeting will be held on June 4, 2020.
This is information that Biotage AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 09.00am CET on April 17, 2020.
Biotage offers efficient separation technologies from analysis to industrial scale and high quality solutions for analytical chemistry from research to commercial analysis laboratories. Biotage's products are used by government authorities, academic institutions, contract research and contract manufacturing companies, pharmaceutical and food companies, among others. The company is headquartered in Uppsala and has offices in the US, UK, China, Japan, South Korea and India. Biotage has approx. 460 employees and had sales of 1 101 MSEK in 2019. Biotage is listed on NASDAQ Stockholm. Website: www.biotage.com
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